Three Things to Consider Before Drastically Raising the Minimum Wage

  1. According to the Center for Economic Policy and Research the minimum wage should be $21.72 an hour, which is an enormous injection of money into the economy. I’m sure we can make a few predictions about what it will do, but we can’t account for every risk.
  2. It shouldn’t be localized to a specific area. Take Portland: if we raised the inner-city minimum–leaving out the surrounding areas–it would make job competition fierce.
  3. The wage-crisis is most likely a symptom of a much, much, scarier, looming problem. I’m not an economist, but I know a band-aid won’t fix a broken arm. Our economic policies need the same overhaul as our bridges and railroads.

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