Advantages of Minimum Wage (Essay Sample)
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Advantages of Minimum Wage
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Imagine a society in which there is no regulation on the minimum amount an employee can be paid. This will expose job seekers to the hands of rogue employers. Having a minimum wage is viewed as an anti-poverty tool in society ADDIN EN.CITE Burkhauser200742(Burkhauser & Sabia, 2007)424217Burkhauser, Richard VSabia, Joseph JThe effectiveness of minimum‐wage increases in reducing poverty: Past, present, and futureContemporary Economic PolicyContemporary Economic Policy262-28125220071074-3529(Burkhauser & Sabia, 2007). The minimum wage acts as a reference to both the employee and the employer. It thus eliminates any conflict between the employee and the employer. For this reason, the importance of minimum wage in society cannot be overlooked. Outlined below are some of the benefits of minimum wage:
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