The equilibrium wage is equal to the labor value and the compensation required by the laborer at the same time, and the labor and the employer are mutually beneficial. However, if the government arbitrarily sets a minimum wage that is higher than the market wage, even if workers are willing to provide more labor services, because the minimum wage is higher than the labor value, employers cannot afford it, resulting in unemployment. Moreover, since the minimum wage usually affects only disadvantaged workers, neoclassical schools (such as the Chicago School represented by Milton Friedman) further infer that the minimum wage will cause disadvantaged workers to lose their jobs.
competition model is widely circulated even in Taiwan today. For example, Guan Zhongmin, the current president of National Taiwan University, once declared in his appointment as the chairman of the National Development and Development Council, "(Increase the basic salary) Don't say a braised egg, a grain of rice can't be cooked." Gao City