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the minimum wage was pushed by three factions each had their distinct purpose although there was quite a bit of overlap among them the first faction consisted of progressives who believed that a minimum wage would raise the living standards of the poorest americans this group was the most economically naive
The minimum wage was created to assure that low skilled workers will never get a first job, and for politicians to look like they care about the poor.Inflation comes from the Federal Reserve though. They create money out of thin air, loan it to banks, and the dollars lose value as they circulate into the economy.he minimum wage was created to assure that low skilled workers will never get a first job, and for politicians to look like they care about the poor.