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Minimum wages are defined as the bare minimum of payment that an employer is
compelled to pay wage earners for labor completed over a certain time, which cannot be
decreased by collective bargaining or individual contracts.
Workers would say that they need to raise the minimum wage because it ensures a just
and equal sharing of the rewards of progress for everyone, as well as a minimum living income
for those who are working and in need of such protection. Minimum wages can also be part of a
strategy to combat poverty and eliminate inequality, especially that between men and women.
But the government-enforced minimum wage risks job loss because some firms would
only recruit workers at a rate below the minimum, and some unemployed people will seek a job
that pays less than the minimum.
Do you think by imposing a minimum wage, the government harms both firms and
employees, as well as the economy's productivity?