4.02 Should the Government Control the Economy? 

Should the government raise minimum wage?

In my opinion I strongly believe that the government should raise the minimum wage, because the outcomes can have a lot of positive benefits in the economy, and small or big businesses. Because it would strengthen the economy by raising the standard of living for large amounts of the population, Which means it would allow the increase on the amount of money people earn on their pay check. It can also have a low impact on unemployment, that means less people would be on the Streets and homeless, Because there wont be so much unemployment. Last but not least it would help reduce gender- and race-based income inequality, which means it would allow both male, and female gender earn the same amount of money. Some people that are opposed to the idea of increasing minimum wage believe that the minimum wage can burden on employers, small companies, all resulting in slower growth and decreased levels of employment, and maybe cause unemployment. A reason why increasing the minimum wage would not have an impact on unemployment is that in today’s economy an increase in minimum wage would come mostly out of profits. And there is plenty of that to go around. Therefore the government should raise the minimum wage to a higher value. Because It will help raise and increase the amount of money people earn and decrease on unemployment that would definitely help the economy 

This graph  supports my idea of raising minimum wage because it shows the shortage and surplus issues for minimum wage. And if the wage is set too low, there would be a shortage of money and workers will have demand on more jobs. And if the rate is set too high, people may be laid off, because employers might not be able to afford to keep all of their workers or employees.

sources: 

**''Column: Why raising the minimum wage is good economics''**www.pbs.org/newshour/making.../why-raising-the-minimumwage-is-good-economic...**7/31/2017** **''Pros and Cons of Raising the Minimum Wage''**https://www.thebalance.com › ... › Salary & Benefits › Minimum Wage **7/31/2017**