Raising the Minimum Wage

So Barack Obama wants to raise the federal minimum wage to $9.00 an hour from its current $7.25 level. Is this a good idea? Many bloggers and economists will argue that lower wages mean more jobs and that this relationship is mathematically fixed and a basic fact of economics. They will seek to paint a picture in which all serious or reasonable people agree that higher wages will hurt business or stifle growth. I intend to show their line of reasoning to be overly simplistic and to question this consensus.

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