If the purpose of minimum wage is to improve the lot of the poor, then it should be compared to other similar programmes, such as direct cash transfers
Whenever economists argue that the proposed increase in minimum wage in India will retard employment growth for low-skilled and informal workers, they are accused by sceptics of trotting out a tired old textbook model that ignores many real-word complications and, therefore, has no relevance to the real world. The textbook model is the idea that if labour is mandated to be more expensive, many employers will find ways to make do with fewer workers.
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