Increase in Minimum Wage Business & Marketing Essay (Essay Sample)

Increase in Minimum Wage
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Increase in Minimum Wage
The views clamoring for an increase in minimum wage are becoming louder each day. The opponents of this move argue that the move would only hurt the poor. Indeed, it would take away their jobs, keep them on welfare benefits, and only encourage those in high school to drop out. Research indicates that a move to increase the minimum wage would lead to businesses responding to increased costs through lowering employment numbers, especially for the low-skilled personnel. Moreover, some businesses would be forced to pass the increasing cost of wages to consumers. In fact, economists have gone ahead to study the job-destroying elements of an increased minimum wage. Deontological ethics concerned with what is right or wrong can be used to analyze the issue of increase in minimum wage. Ideally, it is clear that an increase in the minimum wage is morally unjustifiable since it only results in more oppression of people through job losses, hurting of low-skilled personnel, and higher prices for consumers.