Minimum Wage Law

Paper Summary:

The paper looks at the history of the minimum wage law and examines the argument of those opposed to its introduction, that the law increases the rate of unemployment and poverty in the country. The paper asserts that opponents have failed to take into account the demand and supply side of the issue, the resultant use of sophisticated technologies and the way the poorest section of society will be protected from exploitation. The paper concludes that the minimum wage enables people to "earn a living", which is an elementary component of human dignity and social justice. It is the one law that can protect the poorest section from exploitation and is a must for this country.

From the Paper:

"The topic that I have chosen for my argument-based research is minimum wage law in the country. I firmly feel that minimum wage law must never be repealed because it tends to benefit the poorest section of the society. The law has been heatedly debated in many legal, social and political circles as the opponents hold views that are strictly negative in nature and they maintain that minimum wage legislation is only adding to country's numerous economic problems. Therefore it is important to discuss both sides of the issue and see why minimum wage law has not been scraped. For the sake of maintaining objectivity, let us see both sides of the issue. It will automatically make it clear why we should keep the law."

Sample of Sources Used:

• Prasch, Robert E., In defense of the minimum wage.. Vol. 30, Journal of Economic Issues, 06-01-1996, pp 391(7)

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