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What are the pros and cons of a minimum wage?

What are the pros and cons of a minimum wage?

Minimum Wage Pros Minimum Wage Cons ------------------------------------ ------------------------------------ Less government support necessary Higher labor costs for companies Higher motivation of workers Loss of competitiveness Better working quality Replacement of workers with machines Better chances to get out of poverty Higher unemployment

What are the pros of minimum wage?

- #1: The Standard of Living Would Improve. ... - #2: Economic Activity Would Increase. ... - #3: Productivity Would Improve. ... - #1: Small Businesses Would Primarily Suffer. ... - #2: Unemployment Would Rise. ... - #3: Inflation Would Rise.

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