In many countries a small amount of the people earn extremely high salaries. Some people believe that this is good for the country, but others think that the government should not allow salaries above a certain level. Discuss both these views and give your own opinion?
Some would argue that giving high salary for some jobs would be beneficial for the nation, whereas others would opine that there should be a limit for salary. This essay argues that keeping a maximum limit on wages would reduce the economic instability of a nation.
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On the one hand, some people believe that the performance of the individuals would improve if they are awarded for high pays. This is because of the fact that one would get high salaries when that individual is at the top position. This might create competitions among people and they work hard to get that position. These competitions assisted in improving the productivity of a country. For example, a recent study conducted among the distant education students in India revealed that 80%of them are studying to get promotion in their jobs.
On the other hand, economic instability might occur as the result of high wages. This is because the government may not able to give a decent pay to the majority due to the higher wages of the minority. This would lead towards problems in the society. For instance, a recent survey conducted in the offices in India showed that 62%of the employees are receiving lower wages that is not sufficient for their daily needs. I believe that this situation would improve if the government put a limit for maximum wages.
To conclude, although high salary would encourage people to work more efficiently, the majority of the people would not able to meet daily needs. Thus, l believe that keeping a maximum level for high wages is a better option to reduce financial instability.