Building Prosperity from the Bottom Up

In the article, “Building Prosperity from the Bottom Up”, author Thomas Palley argues that increasing minimum wage would not only improve the standard of living for the lower class, but it would also help the middle class as well as improve productivity in businesses. First, he explains that contrary to traditional beliefs, modestly increasing minimum wage would have no effect on unemployment rate. Also, as Palley states, “It [increasing minimum wage] is good for the …

…happier with higher minimum wages. Most importantly, this is a crucial issue in politics because it helps determine the status of our economy. If our citizens are employed and above the poverty line, our country is considered prosperous and successful. If however, the government makes the wrong decision in regard to minimum wage, the economy can easily fall apart resulting in a severe depression. Therefore, minimum wage is a very important issue in American politics.