Minimum Wage

Adam Smith would definitely approve of our minimum wage policy. It seems that Smith believes that the government must prevent all of the poor working people, from falling any lower in society. “…is the state into which the laboring poor, that is the great body of the people, must necessarily fall, unless government takes some pains to prevent it.” (Smith, 38) In this quote we can see that Smith recognizes that the majority of people who work are not the ones that are make tons of money but are the poorer people, and Smith believes in great societies the government must keep the poor from falling. One way that the government can do this is by making sure that there is a standard payment that everyone can make. By making this law the government can try and keep the number of poor in more control. However, this can only keep the number of poor in so much control. I think he would also be glad to see that minimum wage has been riding, because as time goes on more money has been needed to make a living and to live more comfortably. If there was a minimum wage that didn’t get risen every, then I think we would have a lot bigger of a problem. As the value of items went up, the number of poor people would also rise, and I don’t think that Adam Smith would be satisfied with that situation.