An Economic Case for Minimum Wage Hike | National Catholic Reporter

An Economic Case for Minimum Wage Hike | National Catholic Reporter by MSW.  MGB: The facts always show minimum wage hikes result in growth - because all the additional money is spent and there are less bankruptcies from the low wage adult world.  In theory, minimum wages have no effect on jobs in a monopsonisticly competitive labor market (or even an oligopsony).  These facts never stopped conservatives, who don't believe in either data driven analysis or what we call Welfare Economics (its what you learn in Basic Econ in College).  The Randians think such policies steal from business owners and do not really help workers because prices go up - except prices are going up anyway due to oil speculation and the unwillingness of Obama to regulate it well.  The minimum wage increases are just an attempt to catch up.