Zanny Minton Beddoes Quotes
The problem with one single minimum wage is that you don't allow for younger people, who are less skilled and maybe more easily pushed out of the job market, or that the minimum wage should vary for different regions.
Beddoes, Zanny Minton. Interview.
This is the classic conservative argument against raising the minimum wage. Historically, if the minimum wage was raised well after there has been a period of wage inflation, there has been little or no negative effect on the lowest paid workers. However, when the minimum wage has been raised during a period of wage stability, there is an effect of making some workers simply not worth the rate that they must be paid. However, even then, after a year or two, the negative effect begins to dissipate.
Susan Jean Elisabeth "Zanny" Minton Beddoes is a British journalist. She is the editor-in-chief of The Economist, the first woman to hold the position. She began working for the newspaper in 1994 as its emerging markets correspondent.