Today, 02:23 PM
Indeed! Think of the children!
Regarding the back and forth about the historical value of minimum wage in today's dollars:
In many ways this is a red herring, because it diverts attention from the real issues, which are that:
--in a free society all trades including those that involve labor must be consensual and freedom to contract at mutually voluntary terms must not be abrogated
--in a free enterprise economic system, price signals are essential to determine the allocation of resources. Any attempt by government to impose either price ceilings or floors cause the mis-allocation of resources and make the system as a whole less productive with the result that everyone is worse off.