Will minimum wage laws work here?

[brylimme]

can show me the news?

there are many more talking about the cons of minimum wag - HK or not and it's only fair to read both sides of the story. i want a better life for the many whom are affected by low pay but it's important how it's done. minimum wage/living wage/progressive wage isn't about government or politics... it's about helping those who are in need...



http://facingchina .me/2012/09/26/employer-can-you-spare-2-minimum-wage-rises-in-hong-kong/

http://www.scmp .com/article/731407/minimum-wages-never-fall-and-thats-bad-news-hk

http://www.newtimes .co.rw/news/index.php?i=14990&a=53566

http://reason .com/blog/2010/09/01/new-hong-kong-minimum-wage-law

 

[brylimme]

machine breakdown how?

rast time moi work in precision engineering factory @ loyang... when machine breakdown, all the ju hu kia and tiongs stand there gong gong i see u, u see me.

then now can hire a technician also lor

 

[Rokusaburo]

scarlly a lot of bosses pay minimum wage to degree grads then say take it or leave it.

 

[Shutterx]

there are many more talking about the cons of minimum wag - HK or not and it's only fair to read both sides of the story. i want a better life for the many whom are affected by low pay but it's important how it's done. minimum wage/living wage/progressive wage isn't about government or politics... it's about helping those who are in need...



http://facingchina .me/2012/09/26/employer-can-you-spare-2-minimum-wage-rises-in-hong-kong/

http://www.scmp .com/article/731407/minimum-wages-never-fall-and-thats-bad-news-hk

http://www.newtimes .co.rw/news/index.php?i=14990&a=53566

http://reason .com/blog/2010/09/01/new-hong-kong-minimum-wage-law

which article shows that min wage has a bad effect on HK economy/workers now?
can u copy and paste some paragraphs here?

 

[dark_aLLeY]

then now can hire a technician also lor

got hire... that time have to wait for their taiwanese technician to come fix lor

 

[eng80425]

scarlly a lot of bosses pay minimum wage to degree grads then say take it or leave it.

Then they will only be able to employ bey gan degree holder.

 

[Rokusaburo]

Then they will only be able to employ bey gan degree holder.

If all sme's collude together then there will definitely be more degree holders than jobs.

 

[BioProEng]

Then they will only be able to employ bey gan degree holder.

agree to some extend, cause those coy that can afford, will offer higher pay to find talents... those want really min wage wan, will have to risk finding a good staff...

then surely, there will still be increment etc as per norm etc, to retain the staff and for others... and if coy insist of min pay etc, he will have to risk losing the staff.... etc

for part-timers, there should also be 'part-timers min wages' pending on the scope of job..... if not really 10yrs ago, avg salary is 6/hr, 10yrs later with all inflation the salary become 5/hr (market driven as these ppl will say), but does this sound right?

 

[widman01]

there are many more talking about the cons of minimum wag - HK or not and it's only fair to read both sides of the story. i want a better life for the many whom are affected by low pay but it's important how it's done. minimum wage/living wage/progressive wage isn't about government or politics... it's about helping those who are in need...



http://facingchina .me/2012/09/26/employer-can-you-spare-2-minimum-wage-rises-in-hong-kong/

http://www.scmp .com/article/731407/minimum-wages-never-fall-and-thats-bad-news-hk

http://www.newtimes .co.rw/news/index.php?i=14990&a=53566

http://reason .com/blog/2010/09/01/new-hong-kong-minimum-wage-law

ur source is really jialat ....

either pre min wages in hk or from Rwanda journalist

check my source post above, newest march 2013. got statistic inside. number of hawker increase 500, unemployment drop, GDP increase

 

[Empiricism]

There is no such thing as "underpaid" or "overpaid" because everything is just market equilibrium.

The price is just like that.

Supply and demand --> interact = market price.

If there is a minimum wage, it is an artificially imposed price control, a floor level.
It is an external interference which brings distortion to the market and disrupt the equilibrium.

The result is more unemployment.

Singapore has one of the world's lowest unemployment rate.
This is not by accident.

If there is minimum wage, there would be more unemployment, which in my opinion is contrary to the spirit of the policy in the first place.
It is supposed to help people, but it ends up hurting people.

I think we should all reject minimum wage, for a more inclusive and egalitarian society.

Yup, using pictures of textbook to refute the points of others. This theoretical framework is elementary at best.

On a similar note, I can also scan my entire subject guide and textbook to refute your points. But I shall not do that.

While Mankiw's explanation is theoretically correct (I follow his blog, just in case you didn't know), it doesn't take into account the reality of market failure.

That's where the analytical framework of Pareto efficiency comes in, as I already mentioned in the first page. What seems like market equilibrium to you doesn't necessarily means that it's Pareto efficient, especially when firms wield so much power that the demand for factors (labour specifically) is elastic.

 

[Zimpleman]

Hi peeps n ts, good day too. Tis guys n gals u r debating wif may hav jus collected their pink IC, if all hell break loose dey'll return 2 their fairyland. Chiau Kia wif jus a few years of working wif d PAPies estab, jus nids 2 show water color, not much substances jus thesis n no ground or foot work/ studies. Tis " IFFies" dwell in Grand lizard concrete jungle cloud, floating in mid air. Dey dun even noe of our past n how our country was develope, ur's truly was part of tis history n dun nid 2 continue wif their IBies life bane.
Hav a wondeful evening pple.

 

[Rocket3]

Implementing minimum wage doesn't mean everyone will get paid at least a certain amount an hour.

In the UK, it's not unheard of for authorities to crack down on employers who pay their workers less than minimum wage. Some people might still get paid less than minimum wage even after minimum wage is implemented.

 

[lockks]

Free market forces. More like pap controlled market forces. In sg where got free market forces. Brainwashed. Hopeless citizens

 

[widman01]

here another source of hk min wages statistic, before and after. it shows improvement

What is the Impact of Minimum Wages on Household Income Distribution? | Yue Chim Richard Wong

 

[rethaFrey]

singapore logic berry simple one

NO PROFIT = BAD
no need tok so much

if minimum wage and social welfare gave the government any profit.
They would flip prata faster than Tony Tan running 2.4

HAHAHA this.

 

[widman01]

Implementing minimum wage doesn't mean everyone will get paid at least a certain amount an hour.

In the UK, it's not unheard of for authorities to crack down on employers who pay their workers less than minimum wage. Some people might still get paid less than minimum wage even after minimum wage is implemented.

it is always ppl to break the law lah...

don't litter, also got ppl litter.
gst, also got ppl under declare.

 

[Yueming]

There is no such thing as "underpaid" or "overpaid" because everything is just market equilibrium.

The price is just like that.

Supply and demand --> interact = market price.

If there is a minimum wage, it is an artificially imposed price control, a floor level.
It is an external interference which brings distortion to the market and disrupt the equilibrium.

The result is more unemployment.

Singapore has one of the world's lowest unemployment rate.
This is not by accident.

If there is minimum wage, there would be more unemployment, which in my opinion is contrary to the spirit of the policy in the first place.
It is supposed to help people, but it ends up hurting people.

I think we should all reject minimum wage, for a more inclusive and egalitarian society.

I agree totally

That is why we should stop the flat fees for foreign pass, permits and levies

Everything should be left to bidding processes so that the fees will be at a market equilibrum.

Let employers bid for all these passes, permits and levies.


only the ones willing to pay the highest fees, salaries and levies will get to hire the foreigners.


the renewal fees should also be left to market forces. make them bid, the ones paying highest fees get renewed



the pass issuance fees should also be left to market forces. those who willing to pay highest get renewed




PR and new citizenship should also be left to market forces. Those who willing to pay the highest fees will get their PR and citizenship.

 

[Meat Bao]

If you read the HK related news articles, they already explicit write that there are negative impacts, such as reduction of restaurant service staff, reduction in service quality, etc.

And the experts quoted there say that the macro data is hard to interpret due to too many factors being involved.

In other words, it might be "inspite of" the bad effects of minimum wage, the data doesn't show poorer results due to other positive factors from other things.

The economists have pro minimum wage camp, and contra minimum wage camp.

There are other ways which are more risk-averse and safer / better in terms of lifting wages, reducing income gap, etc.

This minimum wage has side-effects.

The alternative of skills training, WIS scheme, etc, is a better policy.

Besides of this, other areas could be tackled by government in general to reduce the rich-poor gap, such as progressive tax policy, better housing policy, educational policy, transport, healthcare, etc.

 

[zuoom]

I agree totally

That is why we should stop the flat fees for foreign pass, permits and levies

Everything should be left to bidding processes so that the fees will be at a market equilibrum.

Let employers bid for all these passes, permits and levies.


only the ones willing to pay the highest fees, salaries and levies will get to hire the foreigners.


the renewal fees should also be left to market forces. make them bid, the ones paying highest fees get renewed



the pass issuance fees should also be left to market forces. those who willing to pay highest get renewed




PR and new citizenship should also be left to market forces. Those who willing to pay the highest fees will get their PR and citizenship.

sounds like COE 101 again.

 

[dark_aLLeY]

Free market forces. More like pap controlled market forces. In sg where got free market forces. Brainwashed. Hopeless citizens