Introduction
Hello Augustine, I learned through the internet that some 90 percent of the countries around the earth have legislation that supports minimum wage. For instance, I learned that minimum wage in the countries, which rank within lowest 20 percent of pay scale is actually less than 2 U.S. dollars per day or roughly 57 U.S dollars per month. In these countries, universal minimum wage is essentially set by the national law for all the workers whereas partial minimum wage is actually set by region, in certain industries, or through bargaining agreement.
Thus, I think that the issue of increasing minimum wage in many other communities is a decision that is made by local governments and not a decision that is actually made by them through voting by using ballot. If the decision to increase minimum wage was made by the communities themselves I think workers throughout the world would not be complaining about low wage because everyone would vote in its favor.
Additionally, I think GDP and GNP will increase if government makes a rule that every employee who works for a corporation would make minimum wage. For instance, if the United States government forces Apple Company and other companies in U.S. to pay both foreign and American workers the United States minimum wage, the United States’ GDP and GNP will increase because the total value of services and products in U.S. will increase. This will be possible because with minimum wage, residents in the country will invest more and with the increase in investment, there will be an increase in the production of goods and services. Moreover, minimum wage will increase consumption throughout the country hence this will also increasing production of goods and services. As a result, the Gross Domestic Product and Gross National Product of U.S. will increase.
Works cited
Ehrenreich, Barbara. Nickel and Dimed: On (not) Getting by in America. New York: Metropolitan Books, 2001.
