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Title: The Case for a Higher Minimum Wage Date: Feb. 26, 2012 Source: The New Yorker Author:* *John Cassidy**

*Summary: *The first statement we can make without fear of contradiction is that, at $7.25 an hour, the current minimum wage is pretty low. In nominal dollars, it’s gone up quite a bit over the past twenty-five years. In 1978, it was $2.65; in 1991, it was $4.25. But these figures don’t take into account rising prices, which eat away at purchasing power. After adjusting for inflation, the minimum wage is about $3.30 *less* than it was in 1968. Back then—forty-five years ago—the minimum wage was $10.56 an hour, according to a very useful charthttp://economy.money.cnn.com/2013/02/14/minimum-wage-history/from CNNMoney.

*Link*: http://nyr.kr/XFoh9R