Econ 101: maximum rage about the minimum wage (video)


On Tuesday morning, Radio 4’s Today Programme and a number of centre left papers ran a story about the ‘living’ wage.  Unfortunately, this important story was then swamped by the hacking trial circus later in the morning.

The reality is that the right-wing had begun rolling-out the same tired and largely invalid arguments against the living wage that have been used, with some success, against the introduction of the minimum wage and against raising that de minimis level of income in line with inflation each year.

Video © BBC

This argument has been raging in the US for more than a year and is what lies behind the fast-food strikes that have taken place recently.  The following are three video clips that tell you everything you need to know about which side of this debate you should be on.

Due to  copyright restrictions in order to watch the clip you need to type or copy and paste the passwordimincorrigible

Video © Comedy Central

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Video © Comedy Central

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Video © Comedy Central

 

economics 101  living wage

 

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