What should the minimum wage be?

Setting aside the rancor of the political class, several economists argue that $7.25 an hour is far too low

Fast food strike
(Image credit: AP Photo/John Minchillo)

Many fast food workers across the country are on strike demanding $15 an hour — more than double the federal minimum wage of $7.25.

That $15 figure strikes some as egregiously high. Conservative groups like the Employment Policies Institute — founded by hospitality and restaurant lobbyist Rick Berman — have published editorials arguing that raising the minimum wage would cost the country jobs. Even some progressives, like Christina D. Romer, the former chair of President Obama's Council of Economic Advisers, have argued that increasing the earned-income tax credit and increasing access to pre-kindergarten education are more effective anti-poverty tools than raising the minimum wage.

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Keith Wagstaff is a staff writer at TheWeek.com covering politics and current events. He has previously written for such publications as TIME, Details, VICE, and the Village Voice.