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The purpose of the minimum wage is to insure the worker a fair wage for his work. Employers tend to hire the lowest bidders when they hire and when jobs are scarce, people are willing to work for next to nothing regardless of the value of their labor to the employer. There is also the possibility of hiring foreign workers who are used to working for less. A reasonable minimum wage gives workers enough to live on and maintain steady profits for the employer. (However an inflated minimum wage only guarantees that poor workers will not find jobs.) I do not know what FDR said.

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