Final answer:
The social justice theory argues that the minimum wage should be increased to ensure fair wages for workers, but opponents argue it could lead to job losses. Different theories provide different perspectives on the issue.
Step-by-step explanation:
There are six theories through which the issue of minimum wage can be examined. One theory that can be applied is the social justice theory. This theory argues that the minimum wage should be increased to ensure that workers earn a fair wage that allows them to support themselves and their families. According to this theory, it is the responsibility of the government to ensure that workers are provided with a living wage.
By raising the minimum wage, low-wage workers would have a better chance of escaping poverty and improving their quality of life. It would also help to reduce income inequality and address social justice concerns. However, opponents of this theory argue that increasing the minimum wage could lead to job losses, as businesses may not be able to afford to pay higher wages.
\While this theory supports the idea of raising the minimum wage, it is important to consider the perspectives of employers and the potential impact on the economy as a whole. It is a complex issue with no simple answers, and different theories may provide different viewpoints on the matter.