Evaluating Minimum Wage Laws

Evaluating minimum wage laws, this paper focuses on Germany and the United Kingdom as case studies. It contrasts two economic theories—neoclassical and Keynesian—regarding government intervention. The analysis delves into the real impact and effectiveness of minimum wage legislation, measuring it against market theories and the goals set by the laws. Ultimately, the paper provides a recommendation on the overall value of implementing minimum wages, offering insights into their economic implications.