In this episode, we analyze the pros and cons behind raising the minimum wage. The benefits of raising the minimum wage as well as the contradictions behind these benefits will be discussed. You will learn what this could do to businesses, what could happen to workers, and how employers get around paying employees paying this amount of money. By the end of this podcast, you will be able to comprehend the contradictions behind economic statistics and how numbers are not always what they seem. We will explain why fast food chains have technology to help customers order food. We will explain why the teenage unemployment rate has increased in recent years. We will explain the effect minimum wage has on households. We will even explain how statistics stem from the short term and will not translate into the long term. Just because something happens in one year does not mean it will happen in the next. Join us on this economic journey!
