Just read Clio Chang's well-argued article about the minimum wage. Here is an excerpt:
"But even if minimum wage increases cost people their jobs—which surely would be the case for at least some amount of workers—focusing on that fact would still be missing the big picture. Losing your job doesn’t have to be a devastating life event. Instead of trying to minimize all job loss, those defending wage increases should also fight for a robust welfare state that includes things like generous unemployment insurance and decoupling benefits like healthcare from employment (a la Medicare for all)."
Chang states that, "Losing your job doesn’t have to be a devastating life event." Frankly, I think a more pertinent observation is that losing a job shouldn't be a devastating event, but it often is. Not only are the financial repercussions of a sudden job loss often devastating, but the psychological and emotional effects can be just as damaging.
Attributions:
- Clio Chang, Splinter, We're Talking About the Minimum Wage All Wrong
