Explain in the literature and review the historyof minimum wage increases, and analyze the arguments for and against them. The minimum wage has been raised repeatedly since its first enactment in 1938, but usually amid controversy. Each time, the debate has pitted its proponents' arguments for the income benefits from a higher minimum wage against the contrary projections that it would lead to a loss of jobs, higher prices, and hardship for many small businesses. Research the history of minimum wage increases (or at least one such increase) to determine which side's forecast was more accurate. Take care to research several such judgments so as not to be misled by one or another ideological stance. Please cite references used.

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Researching the history of minimum wage increases and analyzing the arguments for and against them requires a comprehensive examination of various sources to understand the outcomes of different wage ... View the full answer