Going about it the wrong way
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Noynoy Aquino is going about it the wrong way. The idea should not be to raise wages for the workers, but to generate more jobs for the jobless.
But clearly, Noynoy, who is now suffering a downtrend of public satisfaction and approval ratings, is out to score pogi points which in the end, may not solve his problem of dwindling popularity.
Raising the wages of workers will definitely result in more joblessness among the workers, through a closure of small- and medium-sized businesses. At the least, there will have to be a downsizing of the number of workers, given the additional cost of wage increases, which many business can ill-afford to pay. A wage increase moreover brings about distortions in pay scales, once an increase in the minimum wage is implemented. This translates to increases for virtually all the workers employed..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/commentary/20110503com1.html
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