Economics, Econometrics and Finance
8 years ago

Mandating Higher Wages: A Powerful Tool to Combat Poverty

NBER Reporter
Raising Incomes by Mandating Higher Wages. (Research Summaries)
David Neumark

Paper Summary

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The article discusses how raising minimum wages and implementing living wage ordinances can help increase incomes for low-wage workers and reduce poverty. Minimum wages were established in 1938 and have since been increased by some states. Living wage laws, which set higher wage floors linked to the federal poverty line, have been adopted by around 50 cities. Both policies aim to improve the financial situation of low-income families.