Most economists are opposed to the "living wage" concept in
Foreign labor agreements because:

Question

Quizplus · Accepted Answer

Most economists are opposed to the "living wage" concept in foreign labor agreements because it is well above the market wage, and many workers in poor nations would lose the opportunity to be employed. The application of a living wage in foreign labor agreements would lead to higher labor costs, which would reduce employment opportunities and business competitiveness. In addition, most workers in low-income nations already earn more than the proposed living wage.

Most Economists Are Opposed to the "Living Wage" Concept in