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Showcase your ideas on public policy and the role of markets by entering our essay competition. $9,000 in cash prizes will be awarded with $3,000 of this is designated just for high school students! Winning essays may be published in Fraser Institute journals and authors will have the opportunity to experience the peer review process.
Categories and Prizes:
|1st Prize: $1,500||1st Prize: $1,500||1st Prize: $1,500|
|2nd Prize: $1,000||2nd Prize: $1,000||2nd Prize: $1,000|
|3rd Prize: $500||3rd Prize: $500||3rd Prize: $500|
2018 Essay Contest – Increasing the Minimum Wage: Good Intentions, Bad Policy?
The idea of raising the minimum wage in Canada and in some jurisdictions in the United States is a contentious topic. Proponents of a higher minimum wage tout that such increase will be an effective tool for helping those in poverty. But a recent study by the Fraser Institute found that 88% of minimum wage earners in Canada do not actually live in low-income households. In fact, nearly 60% of these earners are young adults aged 15-24, most of whom are living with their parents or other relatives. Additionally, research has found that about 70% of the benefits from a higher wage go to non-poor households in Canada.
Beyond the misperception that the majority of the benefits from an increase in the minimum wage would go to low-income earners and the most vulnerable, raising the minimum wage has been shown to lead to reductions in employment, particularly for young people and immigrants.
While constructing your essay, consider the following questions:
SUBMISSION DEADLINE: July 1, 2018.