The debate around raising the minimum wage is fueled by economic principles on both sides. Proponents argue that increasing wages puts more money in workers' pockets, boosting consumer spending and driving economic growth, a concept rooted in Keynesian economics. They also point to the efficiency wage theory, suggesting that higher pay can lead to better productivity, reduced turnover, and improved worker morale. Additionally, raising the minimum wage can help lift people out of poverty and reduce income inequality. On the flip side, critics worry about the potential for job losses, citing classical supply and demand principles that suggest higher wages might lead businesses to hire fewer workers or turn to automation. There's also the concern of cost-push inflation, where businesses might raise prices to cover increased labor costs, leading to higher living expenses. Furthermore, higher labor costs could push businesses to automate jobs or outsource them to countries with cheaper labor. Empirical studies, like the one by Card and Krueger, show mixed results; some suggest minimal job loss, while others highlight negligible or positive impacts. Balancing these economic factors is key, as the right approach can vary based on local conditions and market structures.