Category Archives: Berdal
by Hannah Berdal
Hannah Berdal is in her third year at the University of Western Australia, studying a combined degree in Law and Commerce with an Economics major. Hannah is currently involved in the Students in Free Enterprise society at her university as an executive member and was recently an intern at the Lion Rock Institute.
Hong Kong’s minimum wage policy has a lot to answer for. As a scheme that prides itself as a champion of the labour market, it seems hard to believe that our most vulnerable workers are being put at the greatest risk of joblessness at a time when employment should be fiercely defended.
For advocates of the minimum wage, the outcomes seem flawless. Many claim that increases to the standard of living for the poorest of the poor and the protection of workers’ rights are the fundamental reasons for enacting the scheme — a seemingly perfect example of government regulation, one would think.
Unfortunately, history shows us that minimum wage doesn’t work. In fact, the end product from such legislation leaves our most unskilled, ill equipped workers out of work and a puts significant strain on Hong Kong’s small and medium sized businesses as they struggle to keep workers amidst the pressures of increasing labour costs and a gloomy economy. Read the rest of this entry
by Hannah Berdal
Hannah Berdal is in her third year at the University of Western Australia, studying a combined degree in Law and Commerce with an Economics major. Hannah is currently involved in the Students in Free Enterprise society at her university as an executive member and was recently an intern at The Lion Rock Institute.
Hong Kong’s Competition Bill has been a long time coming. With the law already enshrined throughout most western economies and anti-trust cases frequently making the headlines overseas, it was only a matter of time before pressure to implement similar legislation reached its peak. However, considering that Hong Kong already outperforms the rest of the world’s economies in open market competitiveness without such legislation, will the local consumer really benefit from such a law governed by the monopoly of the State? And why are SME’s (small-to-medium enterprises), one of the law’s supposedly major beneficiaries, so vocal against enacting this law? With many overseas nations suffering a turbulent and questionable history with the law, the rationale for its adoption in an already cutting edge economy remains unclear. Hong Kong must study the track record of this law elsewhere in the world and review similarly established policies, like those in Australia, to provide useful insight as to its effectiveness and ramifications for the Hong Kong business community. Read the rest of this entry