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Economic growth and inequality in Singapore: The case for a minimum wage
EC3361 - Labour Economics I
6 Pages • Essays / Projects • Year Uploaded: 2022
In the context of Singapore’s ageing population, the employment of large numbers of low-skilled foreign workers is proving to be a major challenge to inclusive growth because of the stagnation of low-wage workers’ incomes. In order to address this problem, the author makes the case for introducing a minimum wage to complement existing in-work benefit schemes. After addressing the commonly voiced objections to a minimum wage system, he suggests ways in which a minimum wage could be implemented in Singapore. New measures to enhance the social safety net and foster more sustainable economic growth are also proposed.
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