The book brings together current theories and empirical research on the minimum wage’s effects on employment, welfare, and productivity, while also reflecting fairly faithfully how the minimum wage operates in practice. It carefully unpacks the ongoing debate over causality between the minimum wage and various factors, and the dilemma in which the minimum wage can reduce poverty and raise the minimum standard of living under certain conditions, yet reduce employment under particular

Economics books can be somewhat difficult for readers outside the field, but this one was easy to read thanks to its clear explanations and well-organized summaries. It gave me a chance to think about the economic background of the minimum wage, its policy structure, and the direction it should take in the future! I recommend it to people who are interested in economics but hesitate to study it because it seems difficult.

I highly recommend this book to anyone interested in or wanting to learn about the minimum wage. 👍

For a while, the minimum wage was a huge controversy. Workers welcomed the news in the hope of a pay raise, but the media ran story after story about reduced employment and small-business owners such as convenience-store operators, warning that a thoughtless, rapid increase in the minimum wage would seriously harm the national economy. I had personally read in several books that workers’ wages had stagnated or declined for decades compared with those of executives and business owners, so I

The minimum wage system was introduced to guarantee workers a minimum wage, thereby stabilizing their livelihoods, improving the quality of the workforce, and contributing to the sound development of the national economy. Depending on the result of a minimum-wage increase, workers and employers pour out anger at one another as if at war. Kim Do-gyeong, author of The Minimum Wage Dilemma, goes beyond analyzing the effects of increasing or decreasing the minimum wage. The book is structured to

The Minimum Wage Dilemma was written by an author who ran a blog analyzing the economy and enrolled in Ajou University’s economics department in 2021. I found it remarkable that the author had been writing about economics on a blog since high school, that this interest led to college, and that it has now become a book. Every year, the question of how much to raise the minimum wage becomes a point of conflict between self-employed employers and employees. The Minimum Wage Dilemma connects the

This book explains in detail the basic definition of the minimum wage and its effects and mechanisms in the economy. I was impressed that the opening sections introduce economic terms and phenomena in a way that makes the subject accessible even to people who do not know much about economics. I also came away with another lesson from the author’s philosophy of life.