The Minimum Wage:an Inevitable Trend Of Rising And Practice In China

Nowadays, the impact from minimum wage system to the economy has caused intense discussion in the academe, but there is still not an obvious conclusion. Suffering from paper discusses, the minimum wage system has been implemented for over100years. The minimum wage provision, carried out in2004, has being discussed ardently among domestic scholars. However, domestic scholars concentrate more on the economic effect of the minimum wage system, and most of their research viewpoints draw form those of the foreign research workers, moreover, the empirical results are of difference. In2008, when Chinese economy was facing severe situation, one part scholars believe that not only the implementation of minimum wage system could not produce positive effect, but also bring immense damage to the economy.This paper holds the view that domestic scholars have focused more on the economic effect of the minimum wage system, resulting in the ignorance of its decisive role in economy. On the one hand, even though the minimum wages has not stopped suffering from paper discussions, it has still been carried out for over100years, which fully illustrates its objectivity. On the other hand, some economic experts insist on emphasizing on its negative influence, but from the historical aspect, that the minimum wage keeps on increasing continuously is existent objectively, instead of moving with the person’s volition. It is the Marxism economy theory that can offer an effective illustration to both the objectivity of the MWS and the inevitability of the minimum wage increasing.Basing on the Marxism economy theory, this paper conducts a theoretical analysis on the minimum wage system, and the paper result is that with the developing of the social productivity and the improvement of the labor productivity, the increasing of the minimum wage is an inexorable trend of the economical development, which will not move with the people’s volition.On the one hand, the development of foreign minimum wage has fully proved its increasing tendency. On the other hand, the practice of domestic minimum wage system has verified the reliability of this objective law. Conforming to the developing trend of economy, government should offer effective intervention to market by increasing the minimum wage timely and appropriately, in order to ensure the stabilization of the society and the durative development of economy.