Prev Next Summary Since the passage of the Fair Labor Standards Act inbusiness interests and conservative politicians have warned that raising the minimum wage would be ruinous. As recently as this year, the same claims have been repeated, nearly verbatim.
February 18, at Army, litter collection, park land are all public goods. What would happen, based on what we know of sociology, social psychology, and human nature? I posit that many an employer would see this as an opportunity to increase their profit margin and lower their operating costs.
It also occurs to me that there is really no incentive to hire new people. Think of it this way: In the current environment, they already operate in or around X. You also have to look at it from the standpoint of the worker. Even a low-skilled worker is not going to want to do manual, repetitive, boring labor if the end result is a minuscule paycheck every week that does not meet their monthly household needs.
Even now, the minimum wage does not keep pace with inflation; what would a lower skilled worked think of making half as much? I believe it was Thomas Paine who said that we need laws and government because people, given the opportunity, will not always do what is right.
I should also note that I DO support the institutions that are required to provide a minimum wage via my patronage. If they are having a hard time paying their employees, then then they need to raise prices on their products, cut their profit margin, or learn to become more efficient.
While you do have good points, I find the analysis too simplistic. We are talking about people, here, and their ability to live in something less akin to squalor. The minimum wage is a necessary evil, until we raise the value of people and stop raising the value of money.
I think an increase in the minimum wage decreases the availability of minimum wage jobs which is why I think that too many people would lose the opportunity to work at a minimum wage job.
Is there a weakness in your analogy given that minimum wage employers depend upon minimum wage workers for their livelihood but Sunday trash pickers do not depend on their trash picking for a livelihood?
Another analogy might be if it were decided a town needed a better staffed public school, asking teachers already teaching there to teach more classes for the same wage while demanding no extra money from the tax payers who fund the school.
Those who support the minimum wage take the position in effect that increasing the incomes of low-wage workers is a public good. You might disagree with that, but if we accept it for the sake of argument, then those incomes should be broadly subsidized for exactly the same reasons that litter and parkland should be.
The minimum wage discussion enters a whole new level when looked at from the perspective of a developing country where a large percentage of the population earns the minimum wage or less. When I was a teenager, I had minimum wage friends who loved their job. And, there was a separate minimum wage for teenagers, so they were being paid even less.Frictional unemployment is the time period between jobs when a worker is searching for, or transitioning from one job to another.
It is sometimes called search unemployment and can be voluntary based on the circumstances of the unemployed individual. Daily updates of everything that you need know about what is going on in the military community and abroad including military gear and equipment, breaking news, international news and more.
Supporters of an increase in the minimum wage claim that the wage increase is a way to fight poverty. They don t know that raising the minimum wage will cause inflation and increase unemployment. Increasing the minimum wage by a dollar is a bad caninariojana.comg the minimum wage by a dollar will.
Introduction and executive summary. The federal minimum wage was established in , as part of the Fair Labor Standards Act (FLSA), to help ensure that all work would be fairly rewarded and that regular employment would provide a decent quality of life.
In this report, we examine the historical data relating to the 22 increases in the federal minimum wage between and to determine whether or not these claims—that if you raise wages, you will lose jobs—can be substantiated.
The September/October issue previews state legislative elections and what voters will face on statewide ballot measures. Also read about efforts to halt sexual harassment in .