While economies may bounce back somewhat less quickly from downturns if wages are prevented from falling beneath a set minimum, it is a worthwhile sacrifice for the sake of preventing the exploitation of workers. The minimum wage is particularly important to uphold in times of recession, since increased unemployment encourages employers to slash wages unmercifully. Such reductions can severely harm individuals and families that often suffer from reductions in real wealth as a result of recessions. Furthermore, in the case of competitiveness, companies do not make their decisions of where to locate based solely on prevailing wage rates. Rather, they value educated, socially stable populations. A minimum wage ensures that working individuals have the resources to provide for the necessities of their families and tends to promote social stability and contentment by engendering feelings of social buy-in that are absent in the presence of exploitation and meager wages. [1] Furthermore, it is not clear that the minimum wage has a significantly detrimental impact on employment. [2]  [1] Waltman, The Politics of the Minimum Wage, 2000  [2] Allegretto et al, Do Minimum Wages Really Reduce Teen Employment?, 2011