I am reading about a new bill to lower the minimum wage in Puerto Rico from \$7.25 to \$4.25 per hour. This comes at a time, when both the New York and California have chosen to raise their minimum wages from \$9/hr to \$15/hr.
Are there any theories of how this affects work in a population?
Have any economists chimed in on the topic of minimum wage in general in general? Can any of it be used to predict what will happen to PR?
Why might policy makers feel a decrease is warranted in one situation while an increase is warranted in another?