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Discuss the arguments for and against the UK economy being a low wage economy or a high wage economy.
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Discuss the arguments for and against the UK economy being a low wage economy or a high wage economy. A low wage economy can be defined as a can be defined as a economy where there are a high number of jobs that are of a low wage, within a range of employment incomes. A low wage can be defined as a wage which is on or below the social security benefit level. In comparison a high wage economy can be defined as an economy where a large proportion of the jobs pay a wage which is of a high wage, i.e. a wage which is a high level above the minimum social security level. The are good arguments for Britain to be a low paid and a high paid economy, the basis of the high paid economy is basically that extra money produces more money and this brings about a buoyant...
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