WASHINGTON, D.C. Deb 21 (DPI) — Columns by Paul Krugman and Robert Samuelson in the last week highlight the huge ideological divide among economists on job creation and economic growth.
Krugman, the neo-Keynesian Princeton professor who writes regularly for The New York Times, came out in favor of President Obama’s proposal to raise the minimum wage to $9 per hour. He excoriated the Republicans for opposing the idea, even though the minimum wage, now at $7.25 per hour, is drawn by about 4% of America’s working population.
http://www.nytimes.com/2013/02/18/opinion/krugman-raise-that-wage.html
Samuelson, meanwhile, focuses on the impact of political impasses and ongoing de-leveraging – that is, debt reduction by businesses and individuals — as creating a climate of uncertainty, which is impeding job growth by the private sector.
http://en.wikipedia.org/wiki/Minimum_wage_in_the_United_States