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First it will give the workers more purchasing power and also boost their moral. It will also increase the tempo of economic activities because workers have more money to spend. However the high rate of inflation in the country will eat up the income and before you know it, it will back to square one. The best way to manage the economy is not necessarily giving the workers increased pay, but to reduce inflation so that our money will command higher value.
Minimum wage 'll boast workers moral positively wen d paymnt commence fully.
Hmm! Good,but what are d steps to be taken and what are d set of people we need?
Charles Ugochukwu Okere said:First it will give the workers more purchasing power and also boost their moral. It will also increase the tempo of economic activities because workers have more money to spend. However the high rate of inflation in the country will eat up the income and before you know it, it will back to square one. The best way to manage the economy is not necessarily giving the workers increased pay, but to reduce inflation so that our money will command higher value.
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