Minimum wage is the lowest permissible wage or remuneration that can be paid by an employer to its employees as required by prevailing law in a given country. According to Wikipedia, is the lowest hourly, daily or monthly remuneration that employers may legally pay to workers. Meaning it is the least amount labours can sell their labour service [1] . There have been divergent views about minimum wage fixing both within the economics field of study and outside. The public policy of minimum wage fixing started in 1987 in New Zealand and 1986 in Australia with the aim of protecting the vulnerable in the country and guaranteeing a minimum standard of living especially for the unskilled workers and it has been adopted by over 90% of nation of the world but how well this policy has achieved the aim is still a subject of intense debate over the years. The most prevalent of these views is that of the neoclassical economics who through their graphical analysis of the demand and supply
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