Synopsis: Program #128 – 4/13/2014 “The Minimum Wage”
Over the next few months you are going to hear a lot about increasing the minimum wage since it is one of the few issues the Democrats can run on. Posturing on this issue will help Democrats keep up the image that they are “for the little guy.” Additionally, the money printing policies of the current administration are putting pressure on wages. Increases in wages are the inevitable consequence of inflationary policies.
Pure economic theory states that there should be no minimum wage. In a free market everyone will earn what they are worth. However, we are not in a perfect world, and there is a moral component that needs to be considered in economic theory. As the Bible teaches, it is possible for the employer to oppress the wage earner . Program 128 discusses the ethics of wages. Why do you need to know this? Because you are called to “let the oppressed go free and break every yoke” (Isaiah 58:6)
Scripture References: Deuteronomy 24:14-15; Leviticus 19:13; Malachi 3:5; Jeremiah 22:3; James 5:4; Colossians 4:1; Proverbs 14:3; I Corinthians 1:26; Romans 15:1; Ecclesiastes 5:13-14; Proverbs 16:26