Analysis on the Disadvantages of Minimum Wage
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A wage is the core economic right and interest of employees. The emergence of the wage problem is that after the society entered the industrial time, there appeared a labor group that made a living by selling labor. In the international labor relations theory, the minimum wage has always been a common practice, and the minimum wage system has also become an important part of the government's labor policy. However, the actual effect of this system is not satisfactory, which in a sense has violated the original intention of the government to formulate the minimum wage system, and the question on “minimum wage” or “maximum wage” undoubtedly explains the embarrassment of the system well. Mainstream economists have never stopped criticizing the government-led minimum wage system. Either the minimum wage system destroys the basic law of market economy, or the minimum wage system contributes to unemployment. This article will analyze why the minimum wage system needs to be abolished from the impact of the minimum wage system on employment and its effectiveness.
Minimum wage, Abolishment, Reason, Unemployment, Inefficiency