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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
Minimum wage. A minimum wage is the lowest remuneration that employers must legally pay their workers. Equivalently, it is the price floor below which workers may not sell their labor. Although minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage.