Seattle’s Bold Minimum Wage Experiment
The study of microeconomics encompasses an assortment of units of the economy, how they function and how they reach their symmetry. In this analysis, the paper seeks to use the main theories covered under microeconomics in discussing the Seattle Minimum Wage.
The city of Seattle sought to raise its minimum wage to $15 an hour; a development that some may consider a bold move accompanied with a sense of utopia. In essence, the experiment is an untested move whose effects are unknown. Is it, therefore, prudent to consider a matter reliable if it has no tested truth? Certainly not, but it does ...