Economists believe that this will stimulate the economy
75 prominent economists, including seven Nobel Prize winners in economics, demand that the U.S. government raised the minimum wage for Americans as reported by Bloomberg.
Today the team of professionals published a letter which calls to raise the minimum salary from $ 7.25 to $ 10.1 per hour. Moreover, economists argue that wages should increase in line with inflation. They believe that increasing wages will not lead to job losses.
Previous raising the minimum salary did not affect the number of employees, even in times of unstable economic situation. Moreover, the minimal increase in financial compensation may slightly stimulate the economy because low-paid workers will spend extra wage.
President Barack Obama approved an increase in wages. The last word rests with Congress. Yet lawmakers did not approve the project.
The idea of increasing the salaries is supported with Nobel laureates Kenneth Arrow, Peter Diamond, Eric Maskin, Thomas Schelling, Robert Solow, Michael Spence and Joseph Stiglitz.
