Should We Abolish the Minimum Wage?
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The so-called minimum wage system refers to the system in which the state stipulates that the employer should pay the minimum labor remuneration to the workers through legislation. The minimum wage system is an important measure and means to ensure the realization of workers' right to labor remuneration, and it has played a positive role in safeguarding the legitimate rights and interests of low-income vulnerable groups and safeguarding social substantive fairness and justice. Although the call for abolishing the minimum wage standard is not totally unreasonable, its fundamental mistake lies in ignoring the preconditions for establishing the minimum wage system in China. The minimum wage system has its existence value and rationality, which is the bottom line for the state to safeguard workers' rights and interests, and should never be abolished. If the government doesn't set a minimum wage standard for the weak labor force, workers will lose the minimum bargaining right in the game between relatively scarce capital and nearly unlimited supply of labor force. This article will make an analysis of the dispute over whether the minimum wage should be saved or abolished, and analyze the reasons behind the dispute.
Minimum wage system, Labour force, Dispute