inequality

Myths of Maximizing the Minimum Wage

Stephen Suh on October 31, 2013
Image from P T via Flickr Creative Commons
Image from P T via Flickr Creative Commons

The US federal minimum wage has been a hot topic in 2013, starting with President Obama’s proposal in February to increase the federal minimum wage to $9/hour. Then, over the summer, McDonald’s was the source for national ridicule after releasing a financial planning document for its workforce that suggested employees would need to work two full-time entry level jobs in order to pay for basic monthly expenses. Most recently, thousands of fast food workers from across the nation went on strike to increase the federal minimum wage to $15/hour. Is living on a minimum wage income really that tough? And if it is, why is it so difficult to simply increase it?

In most cases, living off a minimum wage income is simply not feasible, especially for single parents.
Much of the reluctance to increase the minimum wage stems from the fear that higher wages would force companies to raise prices and hire fewer employees. However, these anxieties are largely unfounded.

Where are the Women in High Finance?

Anne Kaduk on October 17, 2013

With the recent nomination of Janet Yellen as chairman of the Federal Reserve, a variety of news coverage has focused on the lack of women at high levels in finance or even with the necessary credentials – a PhD in economics. Why aren’t there more women in such positions? Sociologists find evidence for several barriers women encounter along the way.

Fewer women tend to choose highly competitive, male-dominated professions such as economics, finance, or engineering
When they do join these fields, women often encounter discrimination at all levels of career progression
Some women leave these professions after they have children because they lack the support to meet both work and family demands.