Time and time again we hear that if the minimum wage were increased, it would result in job losses. This is in spite of research to the contrary www.irle.berkeley.edu/workingpapers/157-07.pdf
If fact the research found a slight negative correlation, that is, increasing the minimum wage may actually increase employment. Increasing the minimum wage is an important tool in improving the welfare of the poorest in our society, and reducing the gap between rich and poor.
A contrary opinion can be found at http://www.cis.org.au/media-information/opinion-pieces/article/3045-stop-pricing-young-workers-out-of-the-labour-force
I believe there are markets where competition for employment can drive wages below that required for living, that is supplying the basics of accomodation, food, energy, clothing and transport. Such a situation is fundamentally unjust, and a form of economic slavery and oppression.
A minimum wage prevents competition from pushing prices of certain markets into this oppressive region, and this is good for everyone.
No comments:
Post a Comment
Your comments are welcome.