It is argued that recipients of the basic income would have considerably more bargaining power when negotiating a wage with an employer as there would be no risk of destitution for not taking the employment. This is where human labor passes outside the field of economics and becomes a moral issue.
Get government out of economics as much as possible. In reality, however, these cases are extremely rare.
The just price of labor, as of anything else, is determined in the open market by the common estimate of men, and the ordinary reason given by men for judging that a wage is too low is: Con Many people believe that the minimum wage should be raised.
Arguments in favor of minimum wage laws Arguments against minimum wage laws Supporters of the minimum wage claim it has these effects: If people would respect their money and understand the value of the dollar then they would have to learn skills that would promote them in the job Market.
This is why a man will spend his life working for himself, as an independent farmer or artisan or shopkeeper. Stanley conducted a similar meta-analysis of 64 U.
Someone will pay for these increases; nothing is free.
Thanks for a punctual response, Con. Some would say that the high cost of living is brought about by the devaluation of the dollar and the effects of inflation. The top 10 percent of earners in the United States have gone from constituting a third of all income in the U.
As trade unions were decriminalized during the century, attempts to control wages through collective agreement were made. They state that the reduction on consensus on this question is "likely" due to the Card and Krueger research and subsequent debate.
Arguments in Favor Those in favor of increasing the minimum wage argue that such an increase lifts people out of poverty, helps low-income families make ends meet and narrows the gap between the rich and poor. Just because it happened long ago does not mean that it is no longer relevant.
That last argument is underscored by the exorbitant salaries earned by CEOs and other corporate titans, which are also the same people generally arguing against an increase in the minimum wage.
How can the minimum just wage be determined. This is from an article entitled, "Government Intervention: On to my rebuttals. Others, particularly those with the lowest prelegislation wage rates, will be unable to find work.
Untill we have a source, this cannot be counted as fact. Under a higher minimum wage, a significant number of companies would likely trim payrolls in order to maintain profits. The inefficiency occurs when there are a greater number of workers that want the higher paying jobs than there are employers willing to pay the higher wages.
Primary Objectives Of Minimum Wage Laws It seems like you don't agree with me on what the objectives of minimum wage laws are.
The unemployment rate for teens remains unacceptably high. They are inimical to collective prosperity because a dynamic society depends on a compact, often unwritten, that the proverbial deck will not be so unevenly stacked.
In an economic recession, however, when business slows, tips can fluctuate wildly and make it hard for workers such as Foti to maintain their budgets.
For every group there is a problem in that we are identifying workers as low- or higher-wage based on a March wage and low- or higher-income based on a income see endnote 2.
Since the minimum wage is not indexed to inflation, On the other side of the discussion is the argument that increasing the minimum wage hurts small To read more on this topic. Feb 22, · What should minimum wage be? I think $25 an hour is a fair wage. 13 following.
answers Report Abuse. Are you sure you want to delete this answer? move, or go under in these places. Maybe we should have a minimum wage that is tied to the cost of living index to the state, but of course that would be a political minefield Status: Open.
Jul 25, · Further, if tips alone don't bring their earnings to the standard minimum-wage level, employers, by law, must make up the difference. In an economic recession, however, when business slows, tips can fluctuate wildly and make it hard for workers such as Foti to maintain their budgets.
The Minimum Wage and Why We Should Leave it Alone When was the last time a "value" meal from McDonald, let alone any other fast food chain, did not cost five dollars or more? A Discussion of Topic of Minimum Wage and Why We Should Leave It Alone PAGES 1.
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minimum wage. Not sure what I'd do without @Kibin.
Jul 24, · The federal minimum wage for covered nonexempt employees is $ per hour effective July 24, The federal minimum wage provisions are contained in the Fair Labor Standards Act (FLSA). Many states also have minimum wage laws. Mar 25, · Well, I think the sit-in protesters were working off the idea that you highball your "demands," expecting to negotiate down.
Minimum wage was created to stabilize the post-depression economy, and to create a minimum standard of living, so yes, you should be able to support a family on minimum wage.A discussion of topic of minimum wage and why we should leave it alone