Liberty Discussion on “Minimum Wage”
Liberty Discussion is a program designed to engage and inform the core members on the ideas of market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through open market perspective. Article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Bikalpa – an Alternative on every alternative Saturday (twice a month).
On 14 July 2018, the members of Liberty Discussion Group sat down at Bikalpa Office to discuss the article, Minimum Wage.
In this session of discussion, we discussed on the Minimum wages. It was participative with conversations. The discussion revolved around what matters to us. Is minimum wages hurting the general people or it is creating an incentive to work? With the general notion of perception, some of the participants articulated that minimum wages are important for us. It will help the workforce in the informal sector who has no assurance of wage protection, social security, occupational safety or employment stability. Minimum wages aim to protect those who may not have the resources to depend on. Furthermore, the proponents of minimum wages argue that raising the minimum is one of the most practical ways of improving living standards for the working poor and reducing inequality in the society.
Following the discussion some of the other participants suggested that simply making an announcement of the increase in wages doesn’t work in the market, the government should devise practical ways for implementation. The minimum wage will have large effects on the market. The minimum wage could cost low-skilled workers their jobs, as employers tended to hire more skilled workers and replace them. Also, the small business may have to simply go out of business. Some other offered advice that it is kind of forced law. For real benefit to the masses, the Government needs to find a middle path such as they should be focused on protecting the rights of labor and safety. Instead of intervening in the market. They should provide the environment to grow.