Friday, January 22, 2010

WW3: Minimum wage debate

In discussion of minimum wage, one controversial issue has been that having a minimum wage allows employers to pay what they feel is necessary for a days work. On the one hand minimum wage was established to ensure fair compensation for a days work. On the other hand, employees would argue that artificially raising wages ends up hurting the people your trying to help. Employers who can't afford the higher wages, will have to reduce the number of employees. Others even maintain that unions have forced up wages and look what's happening to their jobs, others will work for less. My own view is that minimum wage increases the standard of living for the poorest and most vulnerable class in society and improves work ethic. I still must decide however, how minimum wage should be controlled.

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