Adam Smith Mastery

Adam Smith Mastery

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Adam Smith Mastery
πŸ“ˆ IBDP & A-Level Economics A-Grade System (2026 Syllabus)
✨ Analysis Skills Diagnostics β€’ Evaluation Skills Bank β€’ Digital Vault
πŸ”’ ACRA UEN: ###XX339L
πŸ‘‡ Free β€œ5 MOST Scorable CSQ Question Types” (Used by 2025’s Top Scorers)

08/07/2020

On the issue of Minimum Wage in SG:

If set it too high, we face higher inflation. More noises from the public.

If set it too low, no beneficial impact to low wage earners.

If set it "right", then employers will cleverly employ next rung of workers, pay them more, but employ less people. Then we end up w more unemployment.

Wanna earn more? For a country with no natural resources, the remaining resources of labour has to be skilled. So retrain...

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Min wage is a GOOD policy to have for the SHORT term.

Most other countries abuse it... Can't follow them.

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