A Minimum Wage or a Living Wage?

Leading up to election, social media has been inundated with posts about minimum and living wages. However, what are they exactly? Do they actually work? Whom do they benefit and whom do they hurt, if anybody? Or, are they mostly political props candidate use to curry favor with voters?

In this week’s Trading Perspectives, Sam Clement and John Norris discuss the minimum wage and the concept of a living wage, and why they are difficult to enact, at best, across a nation the size of the United States.