A Minimum Wage Solution to Halving World Poverty by 2015: A Stakeholder Approach
IIMB Management Review (Elsevier Science) 25(1):6-18, available at ssrn.com
32 Pages Posted: 13 Jul 2009 Last revised: 27 Sep 2014
Date Written: 2013
The UNDP has set Millennium Goals which include the halving of world poverty by 2015. This can be viewed in the light of enlightened self interest, including noneconomic interest, within the above view. This was translated into reducing by half the number of people living in abject poverty. We examine some existing poverty reduction solutions which are being experimented with, including aid (with central planning with participatory development), property rights, education, microfinance, bottom of the pyramid inclusion, and public sector employment, and find that these have been inadequate to the task, even conjointly. We add a minimum wage based solution.
Keywords: poverty, bottom of the pyramid, development, microfinance, aid, minimum wage, employment
JEL Classification: E24, J3, I3, O01, O01, O02
Suggested Citation: Suggested Citation