Minimum Wage & Economics: An Essay

Some comments on economics and its effects upon society precede a suggestion for dealing with the topic of minimum wage. I suggest that the state guarantee minimum wage without imposing it upon businesses. This most likely would guarantee full employment. Full employment should cover the cost of the subsidy. Moreover, unemployment creates social problems that cost society both directly and indirectly. The state sets the base wage and business offers whatever it wishes for low income positions. High income jobs require no subsidy and the high income earner will deal with the employer directly.