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| [[Introduction To Minimum Wage|Introduction]] [[Why Minimum Wage Helps the Economy|Helps Economy]]
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| Economics is the science that aims to optimize the allocation of resources in society. So, if economists came with the term minimum wage, it definitely must have been for a reason. Let us make a brief overview of the justification of the establishment of a minumum wage in the labor market.
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| '''Initiate effort'''
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| A minumum wage is necessary to promote any effort from the part of workers. Accodring to the efficiency theory, there exists a minumum wage, which workers require before investing any effort. If we look at this tendency, we can bravely state that a minumu wage fuels the economy and lays out the fundamentals of productivity.
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| '''Reduce unemployment'''
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| '''Provide a comparative basis'''
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| '''Limits capitalistic exploitation'''
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| '''Moderates discrimination'''
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Revision as of 01:57, 29 November 2006
