A global standard for the minimum wage seems like the perfect idea, but in reality it can come with many difficulties worldwide. A standard could help reduce exploitation and extreme levels of, …Read MoreA global standard for the minimum wage seems like the perfect idea, but in reality it can come with many difficulties worldwide. A standard could help reduce exploitation and extreme levels of poverty, but a single standard at the same time is hard to apply fairly. Region-specific guidelines would be more realistic to reflect local living costs and developmental levels, but a global standard would just create more unfairness and inequalities.Read Less
I would say no. I disagree with the idea of a global standard for the minimum wage. Minimum wage should be determined according to each country’s unique economic structure and level of development. …Read MoreI would say no. I disagree with the idea of a global standard for the minimum wage. Minimum wage should be determined according to each country’s unique economic structure and level of development. Industrial composition, major export sectors, and labor market capacity all vary significantly across countries. Some economies, especially in the Global South, may not even have the conditions to implement a minimum wage effectively.
A key assumption behind minimum wage policy is that a country can provide a stable supply of jobs. However, if employment opportunities are limited, imposing a global standard could worsen unemployment rather than protect workers. In my view, governments should first focus on supporting job creation and building the capacity for sustainable employment. Only after reaching that stage can a minimum wage policy function effectively. For that reason, I do not think a global minimum wage is either realistic or desirable. Read Less
No, I do not think a global standard minimum wage is crucial or beneficial at this time. Personally, I think that each country should set their own minimum wage. This is because each country is …Read MoreNo, I do not think a global standard minimum wage is crucial or beneficial at this time. Personally, I think that each country should set their own minimum wage. This is because each country is different and has their own needs, institutions, structures, and goals. Additionally, Each country is developing and evolving at their own pace. Each country is unique and needs to create policy that is personalized for them and their situation. All in all, trying to implement a single, minimum wage standard across the globe will not be beneficial to every nation since not every nation is in the same position as others in the international community.Read Less
A global standard for the minimum wage seems like the perfect idea, but in reality it can come with many difficulties worldwide. A standard could help reduce exploitation and extreme levels of, …Read MoreA global standard for the minimum wage seems like the perfect idea, but in reality it can come with many difficulties worldwide. A standard could help reduce exploitation and extreme levels of poverty, but a single standard at the same time is hard to apply fairly. Region-specific guidelines would be more realistic to reflect local living costs and developmental levels, but a global standard would just create more unfairness and inequalities. Read Less
I would say no. I disagree with the idea of a global standard for the minimum wage. Minimum wage should be determined according to each country’s unique economic structure and level of development. …Read MoreI would say no. I disagree with the idea of a global standard for the minimum wage. Minimum wage should be determined according to each country’s unique economic structure and level of development. Industrial composition, major export sectors, and labor market capacity all vary significantly across countries. Some economies, especially in the Global South, may not even have the conditions to implement a minimum wage effectively.
A key assumption behind minimum wage policy is that a country can provide a stable supply of jobs. However, if employment opportunities are limited, imposing a global standard could worsen unemployment rather than protect workers. In my view, governments should first focus on supporting job creation and building the capacity for sustainable employment. Only after reaching that stage can a minimum wage policy function effectively. For that reason, I do not think a global minimum wage is either realistic or desirable. Read Less
No, I do not think a global standard minimum wage is crucial or beneficial at this time. Personally, I think that each country should set their own minimum wage. This is because each country is …Read MoreNo, I do not think a global standard minimum wage is crucial or beneficial at this time. Personally, I think that each country should set their own minimum wage. This is because each country is different and has their own needs, institutions, structures, and goals. Additionally, Each country is developing and evolving at their own pace. Each country is unique and needs to create policy that is personalized for them and their situation. All in all, trying to implement a single, minimum wage standard across the globe will not be beneficial to every nation since not every nation is in the same position as others in the international community. Read Less