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Line 156: − + − − :Suppose that "x" number of students quit school to work at jobs when the minimum wage is $6 per hour. − − :If the minimum wage is raised from $6 per hour to $7 per hour, then jobs appear more attractive to students and even more will leave school than before. More than "x" students will quit school and work at $7 per hour than at $6 per hour. − − :Therefore raising the minimum wage causes more students to leave school in order to work at jobs.
Economics Lecture Three (view source)
Revision as of 21:34, September 15, 2009
, 21:34, September 15, 2009→Minimum Wage: trimmed
Moreover, illegal aliens find that a wage as low as $2 an hour is better than what they could make in their homeland. Companies move operations offshore to take advantage of places that do not have minimum wages as high as ours. Alternatively, workers enter this country illegally to work at low wages and displace American workers, according to the claims made in several lawsuits.
Moreover, illegal aliens find that a wage as low as $2 an hour is better than what they could make in their homeland. Companies move operations offshore to take advantage of places that do not have minimum wages as high as ours. Alternatively, workers enter this country illegally to work at low wages and displace American workers, according to the claims made in several lawsuits.
There is another effect to raising the minimum wage that is also hurtful. Researchers have found that raising the minimum wage causes some students drop out of school, or not go on to college, because they can make more money working at jobs than they could before. This can be understood as follows:
There is another effect to raising the minimum wage that is also hurtful. Researchers have found that raising the minimum wage causes some students drop out of school, or not go on to college, because they can make more money working at jobs than they could before. This can be understood as follows. Suppose that "x" number of students quit school to work at jobs when the minimum wage is $6 per hour. If the minimum wage is raised from $6 per hour to $7 per hour, then jobs appear more attractive to students and even more will leave school than before. More than "x" students will quit school and work at $7 per hour than at $6 per hour. Therefore raising the minimum wage causes more students to leave school in order to work at jobs.
The more education that someone has, the higher their average income is. Studies show that going to a four-year college increases the lifetime income of an average person by about $500,000. Students who complete four-year colleges make more money on average than students who completely only two-year colleges. Students who complete two-year colleges likewise have higher average incomes than students who end their education after high school.
The more education that someone has, the higher their average income is. Studies show that going to a four-year college increases the lifetime income of an average person by about $500,000. Students who complete four-year colleges make more money on average than students who completely only two-year colleges. Students who complete two-year colleges likewise have higher average incomes than students who end their education after high school.