A minimum wage solution to halving world poverty by 2015: A stakeholder approach

Abstract

The UNDP has set Millennium Goals which include the halving of world poverty by 2015. 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
• Development
• Microfinance
• Aid
• Wage
• Employment