Bonus Podcast: Should We Abolish the Minimum Wage?
With James A. Dorn, Jared Bernstein, Russell Roberts, and Karen Kornbluh
September 4, 2015
50 min
Full
92 of 464
September 4, 2015
Bonus Podcast: Should We Abolish the Minimum Wage?
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Episode 92 of 464 — walk the feed in the order it was published.
Bonus Podcast: Should We Abolish the Minimum Wage?
Summary
This is a special podcast for Labor Day. The first attempt at establishing a national minimum wage, a part of 1933’s sweeping National Industrial Recovery Act, was struck down by the Supreme Court in 1935. But in 1938, under the Fair Labor Standards Act, President Franklin D. Roosevelt signed into law a minimum hourly wage of 25 cents—$4.07 in today’s dollars. Three-quarters of a century later, we are still debating the merits of this cornerstone of the New Deal. Do we need government to ensure a decent paycheck, or would low-wage workers and the economy be better off without its intervention?
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