I am trying to write the essay of minimum wage but i find that it has nothing good to establish the minimum wage in theory. But people who support the minimum wage will say "自由市場失效" so minimum wage must be establish.
But how can the market "失效"?
most of the country have the minimum wage system,they also have a unemployment benefit systems because they have high tax rate. Becasue they have large internal market and they do not need to rely on foreign investment. But in Hong Kong the Laissez Faire policy is needed because HK need foreign investment. So HK govenment practise the low tax rate policy so that hong kong do not have a unemployment benefit systems(CSSA is only for the people basic needs)
So how do people support the minimum wage legislation?
I watch the李卓人 and HKCTU website and they just say "自由市場失效" and "保障打工仔" sth like that and never explain their ideas in theory.