Minimum Wage Essay - 1068 Words

Bisht;Ashish; 0822881 Minimum wage bill defeated in Parliament Introduction: The demand to raise New Zealand’s minimum wage has decline. We live in a society where government has to make balance between employers and employees. Workers want better paying job and at the same time employers want to control labour cost. Therefor government put the floor of minimum wage â€Å"a minimum wage is the lowest wage that each employee can legally get from an employer† (exclusive papers). This is the lowest amount that a worker can sell his/her labour and that is what we need for better economy right now especially not a price ceiling which is a set below the market price, then a shortage is created; the quantity demanded will exceed the quantity†¦show more content†¦Therefore Minimum wage dose have concusses and many time those concusses is not good for the people, it is supposed to help. But considering the four role players of the money flow (lecture 2) that keeps the market going are household, factory, business and market. The diagram shows how they perform in the society. (Google image) Household as a workers or let us say farmers would give the raw material (crops) to the factory market to make finished product, which will pass on to the distributers or suppliers that can supply to a normal market where household comes and pay the price to buy the product. The process include many workers who could work on minimum wage therefore increase in a minimum wage could result to increase price of few commodity however it gives people some money power to spend to buy those expensive commodity, therefore invisible hands could settle the market or employment down. Conclusion: Every government support the people who live in the country and work for the country to make it better globely.The study shows that increase in mimimum wage would not be logicaly right accourding to demand and supply from that cause inflation or unemployment,if the price of the labour goes high the demand of it will go down.In new zealand there are few industries that employes minimum wage workers and if the wage increase it will defineatly effect those industries,resulting cutting down theirShow MoreRelatedMinimum Wage Persuasive Essay1067 Words   |  5 PagesRandy Oczkowski Mrs. Kenny March 25, 2013 Persuasive Essay $7.25 equals two gallons of gas, one fast food meal, or a simple school supply. With the minimum wage at the current rate you must work one hour to earn the seven dollars and twenty-five cents that only supply you with small necessities for everyday living. This problem was encountered before and was resolved with the agreement to higher the minimum wage from $5.85 to the current $7.25. Although that was a big increase in salariesRead MoreMinimum Wage Persuasive Essay1424 Words   |  6 PagesI. Position Statement Is increasing minimum wage beneficial to society? I believe the United States Federal government should increase the minimum wage. Minimum wage has been a controversial topic in the United States for numerous years. Experts are constantly doing studies and finding emotional and logical appeals to support their arguments. Accordingly, when discussing minimum wage, long-term and short-term effects need to be brought into consideration. Throughout my research, I have found a multitudeRead MoreMinimum Wage Essay2213 Words   |  9 Pagesthe impact of the National Minimum Wage on employment. This is an area we have had to familiarise ourselves with more and more throughout the last ten years because of the controversial effect of its instalment in April 1999 and its ever increasing minimum wage amount which causes most concern. The application of a few statistics should help summarise the ever increasing minimum wage and the sheer scale of people affected by its introduction. The national minimum wage has increased by a staggeringRead MoreEssay on Minimum Wage is The Bare Minimum1018 Words   |  5 PagesMinimum Wage: The Bare Minimum They work hard every day; they stock our store shelves, wash dishes at our restaurants, clean our offices at night, care for our kids during the day...They have in common the minimum wage. And they need a raise, and as you saw, they deserve a raise (Clinton). President Clinton made this speech on the south lawn of the White House at 10:30 a.m. on the 8th of March 2000. He argued for the minimum wage hike to go into effect. He argued for the populationRead MoreEconomics Essay : Minimum Wage1903 Words   |  8 PagesEconomics Essay: Minimum Wage Mark Mulhern It is most advantageous for the United States’ to not raise the minimum wage from $7.25 per hour to $15 per hour. Multiple studies have shown that increasing the minimum wage is inefficient at raising the poverty level. Also, a trade off of having higher paid, stable jobs as a result of raising the minimum wage is less jobs available, or unemployment. Most people expect it to raise the wages of poverty-stricken families. However, the income distributionRead MoreArgumentative Essay On Minimum Wage1314 Words   |  6 PagesThe minimum wage has arguably become the most controversial topic regarding our economy today, as it influences one of the largest classes of people within the United States, the working class. Federally, the minimum wage has not been raised in eight years, so it has stayed at $7.25 per hour for all non-exempt workers (U.S. DoL). The opinions on this topic are typically split across a progressive-conservative line, with progressives being in favor of a raise from $7.25, and conservatives wantingRead MorePersuasive Essay Outline :Minimum Wage964 Words   |  4 Pages Persuasive Essay Outline :Minimum Wage 1 Intro - I want you to think about your very first job .Were you a Bellhop ,cashier ,bartender ,cooks(fast food ),lifeguard, .Now how about your second job were you a airport worker or child care worker.About how much were youRead More Minimum Wage Legislation Essay958 Words   |  4 Pages Minimum Wage Legislation I am going to pose the question to you the students of Sir Sandford Fleming College, do you really want the minimum wage legislation left in affect? As college students you are not benefiting or gaining anything from minimum wage legislation. The minimum wage legislation requires all employees to be paid at least some fixed given dollar amount per hour. This sounds good, but it isnt all that it seems! Minimum wage is an example of government intervention. The governmentRead MoreThe Federal Minimum Wage Essay1035 Words   |  5 Pagesthe minimum wage, to poverty. According to the United States Department of Labor, â€Å"The federal minimum wage is $7.25 per hour† (â€Å"Wage and Hour Division†). Some people believe that a solution to this problem is to raise the minimum wage; however, doing so would ultimately result in a negative effect on the United States economy, businesses, and people. Two groups are affected directly by a change in the minimum wage: the company and the worker. Those in favor for increasing the minimum wage insistRead MoreEssay on The Politics of Minimum Wage5055 Words   |  21 PagesThe federally mandated minimum wage has been a divisive political issue in American politics since it first came into effect in 1938 under the Presidency of Franklin D. Roosevelt. FDR advocated for the minimum wage with the argument that â€Å"all but the hopelessly reactionary will agree that to conserve our primary resources of manpower, government must have some control over maximum hours, minimum wages, the evil of child labor, and the exploitation of unorganized labor† (Greene 2013). This idea led