Minimum Wage Essay Example | Topics and Well Written Essays - 1000 words

tokenish Wage - Essay ExampleCritics are of the view that nominal wage forces employers to institutionalise only skilled reporters and therefore employees with lesser skills may struggle to get employment. This paper argues in favour of stripped wage after analysing both the sides of the issue. The large majority of economists believe the minimum wage law costs the economy thousands of jobs(Messerli). In their opinion, enforcement of minimum wage will decrease the demand for workers. They explain their design based on the supply and demand theory of economics. When salary goes up, supply of workers will also goes up and thereby the demand for the workers will geos down. In other(a) words, when supply increases, demand decreases. The above theory might be true in theoretical terms, but in practical terms, it may not be so. It should be noted that majorities of the western countries are outsourcing their jobs to India like Asian countries at present because of the labour shorta ge. It should be noted that in countries like America and Britain, an ordinary worker is getting salaries, three to four times more than that an Indian worker is getting in his country. In other words, fifty-fifty though the reinforcement are high, supply of labour force is not increasing in countries like America and Britain. On the other hand, in India like countries even though the wages are low, excess of supply of labour is in place. ... Part-time work and full time work should be separated from each other. Minimum wage for part time work need not be the same as that of the full time. Authorities can prescribe separate norms of minimum wage with respect to part time and full time work. Moreover, separate minimum wage norms can be enforced with respect to the qualification and palpate of the employees. Abolishing the minimum wage will allow businesses to achieve greater efficiency and lower prices. Anytime you give businesses more flexibility, you will increase efficiency an d lower prices (Messerli). It is an authoritative fact that only a satisfied worker will try to deliver more than 100% of his efficiency. In other words, workers who struggle to get a decent salary may not be fully committed to the organization. It is better for an organization to have more committed workers to increase its efficiency and productivity rather than having a huge workforce of unskilled or cheaper labours. Salary is the major motivating factor for the employees and therefore minimum wage will by all odds motivate the workers more and thereby the organization will be benefitted. Adults who currently work for minimum wage are likely to lose jobs to teenagers who will work for much less. Many adults trying to make a living are forced to work minimum wage jobs (Messerli). Employers may exploit the workers in the absence seizure of a minimum wage law. They will try to terminate experienced workers even without any reasons, for appointing fresh workers in order to reduce t heir employee wage expenditure. Thus, even experienced employees will be forced to work under tremendous pressure if minimum wage law is not implemented. In the absence of minimum law, business will take undue advantages in the form of