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Phelps Minimum Wage Essay

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Phelps, Bill. "The Minimum Wage Hike Is Good for Business." Forbes, 3 Aug. 2016, www.forbes.com/sites/groupthink/2016/08/03/the-minimum-wage-hike-is-good-for-business. Accessed 1 Aug. 2017.
This is an article on Forbes by Bill Phelps, the Co-Founder and CEO at Wetzel's Pretzels, a fast food chain that has more than 300 locations in 28 states and 6 countries. Using his personal experience, he observes that when the minimum wage in California raised from $8 to $9 and from $9 to $10 “our same-store sales doubled.” According to Phelps, “low-income workers throughout the state have more disposable income to spend.” He ends by quoting that the unemployment rate decreased after the minimum wage increased. Although the writer credits the unemployment rate decrease mainly to minimum wage increase without giving evidence, this article can still serve as a source for the counter argument that a minimum wage increase is beneficial for both business and worker.
Worstall, Tim. "LA's Minimum Wage Rises - Yes, This Really Will Cost Jobs." Forbes, 2 July 2017, www.forbes.com/sites/timworstall/2017/07/02/las-minimum-wage-rises-yes-this-really-will-cost-jobs. Accessed 1 Aug. 2017.
This article in Forbes, is written by Tim Worstall, Senior Fellow of the Adam Smith Institute, a conservative think tank based in the London. The writer …show more content…

Dr. Sabia, Dr. Burkhauser and Dr. Hansen are all public policy analysis experts. In this research, they estimate “the effect of the 2004–6 New York State (NYS) minimum wage increase from $5.15 to $6.75 per hour on the employment rates of 16- to 29-year-olds who do not have a high school diploma.” Their result show that the employment of less-skilled, less-educated workers was decreased by 20.2% to 21.8% with the largest impact on those aged 16 to 24. This can be used to demonstrate how an increase in minimum wage will take away jobs from

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