📋 Written Ability Test (WAT)/Essay Analysis Guide: Should There Be a Global Minimum Wage Policy?

🌐 Understanding the Topic

The idea of a global minimum wage policy addresses pressing issues of labor inequality and poverty while raising concerns about feasibility in diverse economic landscapes. It’s critical for B-school aspirants to connect this topic to global economics, corporate ethics, and sustainability.

🕒 Effective Planning and Writing

• Time Allocation: Plan (5 minutes), Write (20 minutes), Review (5 minutes).
• Preparation Tips: Highlight key statistics on income disparity, economic impact, and global wage policies.

📖 Introduction Techniques for Essays

• Contrast Approach: “While 70% of global wealth resides in high-income nations, over 9% of the population earns less than $2.15 a day, underlining stark income inequality.”
• Solution-Based Approach: “A global minimum wage could uplift millions, reduce exploitation, and foster equitable growth.”

📊 Structuring the Essay Body

1. Achievements

Highlight positive outcomes of national policies, such as Brazil’s Bolsa Familia and EU wage frameworks, which have reduced poverty and enhanced labor equity.

2. Challenges

Discuss issues like enforcement gaps, inflation risks, and cost-of-living variations that make a global minimum wage challenging to implement.

3. Future Outlook

Advocate for region-specific wage frameworks and collaborative international agreements to bridge disparities while considering local economic conditions.

📌 Concluding Effectively

• Balanced Perspective: “A global minimum wage policy, while challenging, could promote equity through phased and region-specific approaches.”
• Future-Oriented Conclusion: “Global wage standards can serve as a cornerstone for sustainable development if coupled with robust enforcement mechanisms.”

🔍 Analyzing Successes and Shortcomings

• Key Achievements: Wage improvements in EU and Brazil, rising awareness of labor rights.
• Challenges: Enforcement failures, regional economic disparities, inflation risks.
• Global Context: Compare successful EU frameworks with struggles in low-income nations.

📌 Recommendations for Sustainable Progress

• Implement regional wage standards based on local costs of living.
• Develop international enforcement mechanisms for wage compliance.
• Promote collaboration among governments, corporations, and NGOs to ensure effective execution.

✍️ Sample Short Essays

• Balanced Perspective: “While global wage parity is ideal, region-specific frameworks are pragmatic for sustainable implementation.”
• Solution-Oriented: “Phased wage reforms can uplift millions while addressing economic disparities sustainably.”
• Global Comparison: “Drawing lessons from the EU, global wage standards can bridge the income gap while fostering inclusive growth.”