Part one of term paper
It sounds simple raise the minimum wage, reward hard work, and strike a blow against the society's inequalities. It's an emotional argument that blurs out the truth and make's people forget one important economic lesson: There's no such thing as a free lunch. The minimum wage has not been increased since the industrial welfare commission rais ...

Part two of term paper
... $4.75 an hour and on March 1, 1997 it will raise to $5.00 an hour and beginning March 1, 1998 it will increase to $5.75. The minimum wage in California has increased nine times in the past thirty years rising from $1.30 per hour in the mid 1960's to $4.25 per hour as of July 1996. The increase has been less than the rate of inflation during this period. The vast majority of the 22,000 members of the American Economic Association agree that increasing the minimum wage will increase unemployment am ...