Author(s)

Yuancen Li

Corresponding Author

Yuancen Li

Abstract

The minimum wage system is a system that controls the wages of ordinary working groups by means of national coercive force, which should meet the basic living needs of workers themselves and their family members. There are many arguments about the abolition of the minimum wage system, with opponents and pros holding their own opinions. Some people claim that Increases in the minimum wage may stimulate macroeconomic growth if productivity is shifted toward more highly-skilled sectors, possibly by inducing additional training for low-skilled workers. While opponents believe that Minimum wages are not well targeted to poor or near-poor individuals across the business cycle. This essay supports the idea that the minimum wage should be abolished.

Keywords

Minimum Wage, Inferiors, Corporate Benefits, Social Employment, Wage Spillover