Is minimum wage detrimental to the economy?

With the recent political hoo-hah regarding the possiblity of raising the minimum wage, I’ve begun to question the seemingly “common knowledge” belief that a rise in the minimum wage would have an adverse effect on employment and inflation. Is there any current information that shows proves this one way or another?

There have been lots of threads on this before. Most studies show there is no correlation between raising the minimum wage and job loss. Usually the minimum wage gets raised when it falls below the value of $1 in 1960. It’s a little under 80% of that now.

MOving this from General Questions to Great Debates.

And I have no doubt, as saoise says, that there have been plenty of threads on this very question.

samclem GQ moderator

Most recently, AFAIK, last month in this GQ thread: Minimum wage = less jobs?