Essays on Wage Increase

Avoiding or engaging in Strike

Assuming the minimum labor wage stands at $7.25 and each employee works 10 hours a day for 25 days a month. This would mean that at least each employee earns a minimum wage of ($7.25 ×10 ×25) = $1812.5 per month. However, in a negotiated labor minimum wage increase of 80 percent negotiated at 40 percent, but at least 10 percent below competitors, it would mean that the company would arrive at a 30% wage increase; this would be 30% of 1812.5. Therefore the labor wage increase would be $543.75 per month; this means that the company would have saved ...

1.0. Introduction to the Project Wal-Mart that is one of the giant industry players in grocery retail has launched a project in 2015. The project was centered on minimum wage hike to make it rise above the federal minimum level of wages. The company raised the salaries of its employee to $9 per hour that is $1.75 above the minimum wage limit defined by the Federal government (Kell, 2016). There are certain factors at the bottom of this wage increase. For example, Wal-Mart is renowned as the largest grocery chain of supermarket in the world, but its compensation plan ...

Article Summary

The Governor of California Mr. Jerry Brown has announced plans to increase the minimum wage in California to $15 an hour. The present minimum is $10 an hour. The increase will be phased out in a five years period by 2022 . The decision came after the recent labor union movements demanding higher wages for the low paid workers. The new minimum wage would make California a state with the highest minimum wage as against the Fed minimum wage rate of $7.25 an hour. The move will lead to wage increase for five million low paid workers in California. It ...

Introduction

The USA is now witnessing one of the highest income disparities in its history. Rich people are getting richer while poor people are getting poorer. One of the main challenges for the government is to ensure more equitable wealth distribution among the population. One of the most discussed techniques in recent years is “minimum wage”. Minimum wage in the USA is currently $7.25 per hour and a multi-year long debate between the Republicans and Democrats is going on upon the issue of increasing the minimum wage to $10.10 (Peters). This has become a major issue of political tussle between ...

Abstract

As the this topic of increasing minimum wage rate is always matter of concern in US we will discuss how the concept of minimum wage rate came into force and at what rate the minimum rate is increase or decreased. The effect on the economy like growth rate, inflation , consumer price Index and their effects will also be discussed.

Introduction

The topic minimum wage is a hot topic these days but it was introduced long back. New Zealand was the first country that came up with national minimum wage laws in 1894. The minimum wage covered almost all the industries ...

The concept of full employment, or the natural, frictional, and rate of unemployment plays a central role in macroeconomics and its policy. Let's start with natural employment. The determinants of the natural rate of unemployment are duration and frequency of unemployment. The duration of unemployment depends on cyclical factors in addition to the structural characteristics of the labor market. The organization of the labour market including the presence or absence of employment agencies , youth employment services. The demographic makeup of the labour force. The ability and the desire of the unemployed to keep looking for a better job which ...

Article Summaries

Article Summaries

There is a great outcry for better pay in the US with many stores having to increase the wages as the governments are legalizing these rising wages. Due to this increased public pressure and increase in purchasing power of the population, it is expected that this trend continues. Wal-Mart stock decreased Tuesday due to the rise in the wages in the US, but this is not about to extinguish the desire for better wages that is gaining momentum in North America as purposed by business leaders and experts. Ontario Federation of Labor president Sid Ryan has put ...

One of the most hotly contested issues amongst U.S. policymakers at all levels of government is the minimum wage. Conservatives argue that increasing the minimum wage will drive up prices and unemployment, decreasing tax revenues and increasing the number of people dependent on welfare. Liberals argue that it would inject more capital into the economy, increase jobs and tax revenues, and make fewer people dependent on government assistance. There is an element of truth to both arguments depending on how much and how gradually the minimum wage is raised. The economic impact of gradually raising the federal minimum wage ...

Impact of Racial Discrimination on Wage

There are still incidences of discrimination in the US, where individuals from particular racial group earn less compared to other people considered as dominant in the same job position. Economic offers a lot of empirical evidence that certain racial group including African American, Hispanic and Asian Americans earn a lower wage compared to their counterpart Native Americans. However, the estimate of the wage gap differs widely with variables such as the database used and decomposition methods. According to the efficiency-wage theory, employers do not necessarily pay workers the lowest possible wage rather than the higher wage to motivate them exhibit higher ...

In the recent past, many people have been voicing out the need to increase the minimum wage by both the federal and state policies. They argue that, an increase in the minimum wage will not affect the economy negatively as most economists suggests. The article Minimum wage increase would have mixed effects, C.B.O Report Says dated February, 18, 2014 authored by Annie Lowrey in The New York Times clarifies this issues using supported evidences. It explains that, the popular Democratic by proposal that is being championed by Obama to push the minimum wage to 10.10% an hour will create ...

- How did Gardner's actions match the description that Murray Rothbard gives to entrepreneurs and entrepreneurship?

Gardner is truly an entrepreneur. Professor Murray Rothbard describes an entrepreneur or a “capitalist-entrepreneur” as the person that invests in land and/or capital goods and uses these factors of production in the present for producing goods and services that will be sold in the future. The entrepreneur makes a profit if the rate of return he gets from this economic activity is greater than the prevailing general interest rates. This is brought about by his realization that capital or capital goods is “ ...

Statement of the problem

The minimum wage is a controversy subject when it comes in receiving wages, as most workers will come to an agreement that, one can never be paid enough. Nevertheless, employers may cause problems with that declaration, believing that they pay greater than the amount entitled to the employees, hence creating a conflict between minimum wages.Arguments supporting raising the minimum wage In my opinion, I consider that it would be a good impression to increase the minimum wage. The motives behind this is because the cost of living has gone up to the level where individuals are not making adequate money to pay ...

Initial Intra-organizational Bargaining and Attitudinal Structuring Processes

Introduction Attitudinal structuring and intra-organizational bargaining are mainly applied in the determination and distribution of rewards. With an attitudinal structuring approach, the main goal is to influence the attitudes of the participants towards each other. The intra-organizational process seeks to increase the consensus among the participants. My own starting point tends to put additional emphasis on the rights of the immigrant workers. The team members’ starting point focuses on the management rights clause. Then this is followed by handling issues regarding the protection of immigration workers and wages increase. The wages increase is placed at 6% each ...

Poverty has been attributed to low income, low wages and unemployment. The provision of a wage by the current federal law has been pinpointed as a means of control in order to reduce the working poverty level. However, the question of whether raising the federal minimum wage will work at improving the current population poverty rate is still an impending topic in the United States. Productivity in an individual firm is determined by the available work force. The raising federal minimum wage has adverse effects on the businesses and the country’s economy. State policies to increase the payroll subsidy resulting ...

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Introduction Over the last few decades, the American society has witnesses a remarkable dissimilarity in the wealth and income distribution in the country. Simultaneously, the American government has not been successful in effectively addressing the stated escalating inequality and bigotry to allocate assets and capital. Consequently, the outcomes are less efficient, less helpful, and less tolerant. Therefore, there is a widespread acknowledgment that the United States of America has turned out to be the most unfair and lopsided affluent country in the world. This inequitable attitude is evident by all logical measures (King 72). Although ...

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I consider the arguments of Benjamin Powell and Matt Zwolinski (1 – 24) in the defense of sweatshop labor relatively solid and convincing. I agree with all the philosophical arguments that they forwarded except in minor areas in their supporting arguments. As such, this essay is largely a rejoinder of their arguments with additional supportive points that may strengthen their pro-sweatshop labor position. I agree that the labor market for sweatshops continues to be competitive, and the prima facie proof that the sweatshop employment was the best alternative accessible to them rests on the ...

The effect of minimum wage on employment has been one of the most explored topic in the discipline of labor economics. During the global recession that plagued the world recently, the rate of employment for the low-skilled and young workers (who comprise the largest component of all minimum workers) worsened disproportionately. Traditionally, some economists have argued that the imposition of a minimum wage that is above the market clearing equilibrium wage reduces employment and at the same time contributes to unemployment particularly among the relatively unskilled as well as the young workers. This is quite ironical given that this is ...

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Introduction Over the past several decades, there has been a dramatic inequality in the distribution of wealth and income in the United States of America. At the same time, the state has failed to aggressively address the mentioned increasing disparity and discrimination in allocation of wealth. As a result, the consequences have turned out to be less effective and less liberal. It is now widely acknowledged that by every logical measure, the United States of America is the most imbalanced and lopsided rich country of the world. As far as economic mobility is concerned, “the likelihood ...

Introduction

Finance, accounting and operating budget have a relationship as a change in one has an effect on the others. Thus, understanding the relationship is crucial as it enhances the ability to forecast the effect when there is a change in one aspect. In that respect, this analysis uses the case of Patton Fuller Community Hospital examining the effect of two nurses’ options on the Hospital budget and performance. The first option involves increasing the nurses’ hourly wage by $1 to $31 and retaining the patient-nurse ratio of 5 to 1. The other option is reducing the patient-nurse ratio to four to one ...

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Executive Summary The University of Maryland is considered as one of the best public universities in the United States. However, the rising cost of tuition fees and other charges has placed public institutions in an awkward situation making it questionable if whether they can provide affordable and quality education in the face of the current economic hardships. Students, on the other hand, could not help but seek for various loans in order to make their way through college. For most families who are earning a median income, sending a single child in college would leave them financially unstable ...

The twenty first century has brought along numerous revolutions in major sectors of the world’s economy. In the beginning of the early twentieth century, people grew the need for labor unions. These were mostly industrial workers since the period was during the industrial revolution. However, the success of labor unions has been on and off over the years. In some economical times, labor unions have improved the situation while in other economical times labor unions have further worsened the situation. The thesis of my essay is to analyze the situation in Illinois after the newly elected governor ...

Question 1

A popular topic talked in congress is the idea of increasing the minimum wage. Some believe that increasing the minimum wage will result in an increase of unemployment; however they are mistaken. Raising the minimum wage will actually increase the money available to low income families for necessities such as Some believe that increasing the minimum wage will result in an increase of unemployment. The thesis statement has a claim on increase in minimum wage and it is strident on the point.

Question 2

The writer assumes that there wouldn’t be a tax charge that would eventually reduce the net income. If ...

Hernderson’s article is different from Sherk’s in the way Hernderson views the effects of increasing the minimum wage. Sherk argues that the effect of increasing minimum wage is the reduction of people in full-time minimum wage jobs and increased difficulty in landing these jobs for those seeking them. According to Hernderson, the effect is increase in teenage dropouts, reduced competition, and reduction in benefits for those who remain in their positions, as well as unemployment and reduced job opportunities. Hernderson explains that economic studies indicate that increase in minimum wage entices teenage students to drop out of ...

My research topic is imperfect competition in labor market. I started to search about the studies about the effects of a firm’s monopoly or monopsony power on wages and hiring. I evaluate my paper with the major features of U.S. labor legislation which is about the evolution of the labor union movement, the effects of wage discrimination on the efficiency of the labor market and the overall effects of unions on economic performance. Imperfect competition means perfectly competitive markets which maximize economic surplus and reduce economic surplus to varying degrees. This market type is very common. There are various ...

The business environment is characterized with various complex business activities and processes that result to conflicts. For example, the most prevalent conflict concept in most of the organization around the globe is the conflict between an organization and the unions of workers. This is based on various employees’ conditions and terms such the enumerations among other factors. However, there are various other conflicts that arise from the business activities and processes like competing firms that lead to the formation of cartels, conflicts on prices with suppliers, among others (Deutsch Coleman & Marcus 2011, p. 26). Resolution of conflicts involves a complex ...

Summary

Minimum wage legislation is a very popular and populist issue. There are both economic and social needs to be addressed in the matter. There are also very highly opposing positions in the discussions. There are many arguments in favor minimum wage legislation. Perhaps, the most important among them are four rationales: poverty alleviation, reduce wage inequality, employee protection, and economic stimulation. Meanwhile, among the four more important arguments against minimum wage legislation are: increased unemployment, aggravated poverty, increased high school drop-out rate and prolonged unemployment periods, and reduced global competitiveness. In the light of the present world economic ...

SENIORITY VS MERIT PAY

Introduction Seniority pay and merit pay affects employment in an organization. The organizations that have steeper wage profiles tend to keep employees longer and also hire few older employees. The pay for high performing employees compared to low performing workers can affect productivity. The high performing workers will keep producing at the high levels if they are paid more. The employees can work hard and well if they have clear direction on what it takes to get higher pay. The employees should understand that performance is what merits higher pay. This will make the low performing workers have ...

Critical Thinking

Labour Unions came to the United States almost as last as the nineteenth century, while they were already gaining popularity in Europe as a result of the industrial revolution of the late eighteenth to mid nineteenth century. There was a growing need for labour unions and spokes persons for the labour force as industrialisation set in. Labour Unions in the United States have come a long way since then and become a force to reckon with. There is however a constant debate on the advantages and disadvantages of being a Union member and employing a member of the Union from the organization’s point of view. ...