The first attempt at establishing a national minimum wage, a part of 1933's sweeping National Industrial Recovery Act, was struck down by the Supreme Court in 1935. But in 1938, under the Fair Labor Standards Act, President Franklin D. Roosevelt signed into law a minimum hourly wage of 25 cents'$4.07 in today's dollars. Three-quarters of a century later, we are still debating the merits of this cornerstone of the New Deal. Do we need government to ensure a decent paycheck, or would low-wage workers and the economy be better off without its intervention?
Jared Bernstein4 Items
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- Senior Fellow, Center on Budget and Policy Priorities & Former Chief Economist to Vice President Joe Biden
Karen Kornbluh3 Items
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- Former US Ambassador, Organization for Economic Cooperation and Development