Intelligence Squared US: Should We Abolish the Minimum Wage?
Saturday, May 04, 2013
Broadcast Times: Saturday 6am on 93.9FM, Saturday 2pm on AM 820 and Sunday 7am on AM 820 and 8pm on AM 820
The first attempt at establishing a national minimum wage, a part of 1933’s sweeping National Industrial Recovery Act, was struck down by the Supreme Court in 1935. But in 1938, under the Fair Labor Standards Act, President Franklin D. Roosevelt signed into law a minimum hourly wage of 25 cents—$4.07 in today’s dollars. Three-quarters of a century later, we are still debating the merits of this cornerstone of the New Deal. Do we need government to ensure a decent paycheck, or would low-wage workers and the economy be better off without its intervention?