Minimum wage: Blessing or a curse?

Minimum wage: Blessing or a curse?

Workers last January wanted a rise in the minimum wage to 360 baht per day, but did not achieve that goal. (File photo)
Workers last January wanted a rise in the minimum wage to 360 baht per day, but did not achieve that goal. (File photo)

The minimum wage is, and has been, a controversial topic among economic experts and the public.

On one side of the spectrum, neoclassical economists claim it is counterproductive in terms of employment as it increases employers' overheads and serves as a slap on the wrist to the invisible hand of the free market.

Those at the other extreme argue that the exploitation of workers needs to stop, and that a high minimum wage would provide fair remuneration for employees as capitalists have benefited for far too long from wage levels at the lower end of the economy.

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