The increase in minimum wage had been attempted by the federal government and multiple states throughout the country attempting to meet the objective of assisting the lowest waged worker in the hopes of fixing the economy and reducing the rates of poverty. ... The attempt by the federal government and state was found only beneficial to certain minimum waged paying employees and was unsuccessful to the goal of reducing poverty proving to be a poor system. ... This explains one of Mankiw's Principles on "The cost of something is what you give up to get it" (Mankiw) because decision makers ...

• Word Count: 1355
• Approx Pages: 5
• Grade Level: Graduate