Wage problem is an important topic that is related to sociology and economics, and it is also an important part that ordinary people are close interested. As the currencies performance of the value of labor, the wage is the primary source of the workers' life, maintaining the survival and development of every worker and their family members. However, it is also the material basis for social stability ( The minimum wage in the form of national law to impose a necessary guarantee for low-income groups of workers, most of the world market economy countries have established this system. There are some theoretical models and academic research achievements of several minimum wage systems. Also analyzed from both positive and negative economic effects of the minimum wage system. First of all, there are many economists having different ideas about the minimum wage system. Effects Nobel laureate in economics, (North 1998) through the study of the minimum wage also considered …show more content…
They form two opposed forces. Opponents argue that the minimum wage is unfavorable work, while the supporters argue that the minimum wage can promote employment. I believe that the impact of minimum wages on employment is not the same. It defies generalizations. Minimum wage policy is to increase employment or reduce work, or have no impact on employment, depending on the particular circumstances of a country's labor market. If the labor market is in a state of perfect competition, the introduction of a minimum wage may be to some extent reduce employment. If the labor market is in a state monophony and an appropriate level of minimum wage, it will help work. If employers reduce the welfare of the employees, it objectively will weaken the employment. Also, a large number of foreign empirical results also demonstrate the impact of the minimum wage policy on employment is