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Economics The Hong Kong Government Essay

Furthermore, the wage protection structure inadvertently demands skilled labor which in most situations us a good impact but it can and does result in higher levels of unemployment especially in the short-term as employers look to invest directly in skilled labor as opposed to training unskilled labor. This of course also leads to the decreased income or wage percentage of the unskilled labor in many situations. Also, the overall recruitment, termination and compensation finances for the skilled labor increase under the wage protection policy, but not at all for the unskilled labor. Basically the wage protection...

A Proposal on Minimum Wage Legislation. LC Paper No. CB (2)2571/08-09(17).
Piana, V. (2001). Wages: A Key Concept of Economics. Retrieved from: http://www.economicswebinstitute.org/glossary/wages.htm

Segerstrom, P and Dinopoulos, E. (1999). A Schumpeterian model of protection and relative wages. American Economic Association. American Economic Review.

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References:

Oxfam Hong Kong (2009). A Proposal on Minimum Wage Legislation. LC Paper No. CB (2)2571/08-09(17).

Piana, V. (2001). Wages: A Key Concept of Economics. Retrieved from: http://www.economicswebinstitute.org/glossary/wages.htm

Segerstrom, P and Dinopoulos, E. (1999). A Schumpeterian model of protection and relative wages. American Economic Association. American Economic Review.
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