A History Of The Minimum Wage

TIME asked:

See who raised the minimum wage and when throughout history. SUBSCRIBE to TIME’s YouTube channel: http://www.youtube.com/user/timemagazine?sub_confirmation=1 For the latest TIME video: …

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24 thoughts on “A History Of The Minimum Wage

  1. BanLiveExport

    Uggs

    The Minimum Wage in Australia is $16.26 an hour. A Big Mac in Australia
    costs $0.45 more than what it does in the USA. So clearly a McDonalds
    worker is much better off in Australia than what he is in the USA. If u
    listen to the Right they say that a Higher Minimum Wage means higher
    Unemployedment. Well Unemployment is lower in Australia than what it is in
    the USA.

    Reply
  2. daylight 1

    funny news

    the minimum has been the maximum for most companies….when they can not be
    denied their massive salaries for all of their skilled labor….

    Reply
  3. lilrog0909

    Best Hosting Deals

    Minimum Wage concept was created by lazy ass white workers that hated the
    influx of African-Americans migrating to the North to get away from the Jim
    Crow South. African-Americans back then would do twice the work as European
    immigrants for less pay so the minimum wage help keep unskilled whites
    employed. Most employers didn’t want to hire blacks anyway but without
    minimum wage it was hard to refuse the cheap labor if it meant saving your
    business a lot of money. The same crap is happening with the Central
    Americans illegals just now is a few unskilled blacks complaining with
    unskilled whites about pay raise that should have never happened 

    Reply
  4. J Scott Upton

    MP3

    Minimum wage laws, like all wage and price controls, are a bad idea. They
    don’t guarantee employment. They only guarantee that if you have no skills
    and no experience you will not be hired. Get rid of minimum wage laws and
    the horrible youth unemployment rate that we have in this country will be
    lowered dramatically. And what sense does it make to have the exact same
    minimum wage for New York and Mississippi? It makes no sense.

    Reply
  5. hotneo7

    book value

    I’m now eating a $20 porterhouse steak…which was what a whole lobster
    used to cost. In a few years everyone will be eating pet food or starve to
    death.

    Reply
  6. unleashed rider

    Transfer/$Save

    Here’s how I see it if minimum wage was 15 or 17 an hour you could save and
    start your own business and people could afford your service or product
    even if you are low skilled most jobs only take a few months to learn
    that’s not a good argument and companies would still make profits and you
    could afford to hire people 

    Reply
  7. leshpar

    iphone deals

    I make $7.50 an hour and work a full 40 hours a week every week. I am on
    food stamps and receive other govt assistance to make ends meet plus my mom
    sends me money each month. THIS SHOULD NOT BE HOW I HAVE TO LIVE! Raise the
    min wage already! How can anyone be against this when you cannot trust
    corporations to care about anyone other than themselves.

    Reply
  8. Gmac

    New Site

    Very interesting video, ridiculous how the min wage has not kept up as it
    should. I wish they also would of showed how the workers production has
    gone up while there pay not kept pace. American min wage workers are
    getting cheated, they are working harder for much less. The min wage is so
    bad the low wage workers have to take gov assistance like welfare and food
    stamps to survive, this is insanity. We needs to increase the min wage to a
    $12 a hour living wage and adjust it to inflation.

    Reply
  9. Patrick Humphreys

    community college

    The minimum wage is classic leftist symbolism: sounds good, so it must
    be—so little is their regard for the *consequences* of such legislation.
    Workers do not need a law to ensure sufficient wages; market competition
    already serves that function. The minimum wage, by enforcing a minimum cost
    of labour, only serves to discriminate against the lowest-skilled worker,
    raising unemployment among the very people it intends to help. While the
    intentions of the minimum wage in the US are seemingly honourable, little
    mention is made, for instance, of its implementation during apartheid by
    white labour unions as an explicitly racist tool against black workers.

    Reply
  10. diskpanic

    Concert ticks

    Interesting comparison… Could it be that we reached the critical point at
    which the price of labor was beyond the return on investment for that
    labor? Could it be that the buying power of the dollar was so badly damaged
    by the continued increases in minimum wage that it stopped being able to
    buy more, and, as minimum wage continued to go up, the dollar could buy
    less and less, not because workers weren’t earning enough, but because
    workers were earning too many?

    Time’s editors seem not to understand the concept of scarcity…

    Reply
  11. Matt Epstein

    swing her

    What a joke, this video doesn’t at all address medium wages for the same
    time period or explain the calculus associated with its graphic
    assumptions. The fact remains that the minimum wage is the wage for the
    least skilled worker, one with no special skills such as a high school kid
    working their first job bagging groceries. Why hasn’t any one addressed the
    real issue that the American economy is not generating higher paying jobs?
    America’s jobs have been out sourced and technology continues to displace
    people American tax law encourages Corporations to go over seas. Wake up
    the minimum wage should not be the standard for Americans to support a
    family, that is a joke. We need job creation with a future not life as
    slaves to the minimum wage!

    Reply
  12. Nerfball6

    hire a pro

    This video should have included statistics showing how those raises
    effected labor participation as well… especially in regards to teens,
    uneducated, the poor, and minorities.

    Reply
  13. Joseph Vaccaro

    no credit check

    Okay as I see it I think minimum wages should be left up to the states,
    DC and territories and get the federal government out of that business of
    one size fits all. Each state is different from the next as far as economy
    goes.
    

    Reply
  14. J Cullison

    website promos

    I saw the minimum wage keep going up and read a lot of hate on people who
    don’t think increasing it will have the desired effect but very little hate
    on the people or its institutions that have made your dollar worth less.
    Stop inflation you save your money. Pretty simple. 

    Reply
  15. myfreedomfirst

    new proxies

    The minimum wage law did not apply to nearly as many industries as it does
    today. Raising the minimum does no good change whatsoever.

    Reply

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