A Case Against The Minimum Wag


It sounds like very good news for the low-income workers and their families whenever the government increases the minimum wages. On the surface minimum wage laws seem like the best prescription to treat poverty and improve living standards of the working poor. Promoters of minimum wage laws are taking positions that such laws alleviate poverty and improve the conditions of life of the working poor. However, upon closer analytical examination, it can be seen that such laws have perverse effects. Opponents are concerned about costs of statutory wage minimums in terms of the hardships they impose on other workers, employers, and regions as well.
The United States Congress adopted the ...

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laws the government is trying to ensure that everyone has a better standard of living and a more equal chance of competing with the higher income families and a fairer chance to improve their economic condition.
In talking about low-income families the topic of equal rights arises and what an individual can do to get fair treatment regardless of their income. In 1962, President John F. Kennedy enacted the Kennedy rights, and among them is the right to be a minority consumer without a disadvantage. The word minority not only refers minorities but also to low-income consumers. What this law means is that a consumer regardless of their income has the right to safety, which is knowing if a product is hazardous to their health. The right to be protected against false advertising, the right to have products and services at competitive prices, and the right to be heard.
These rights have often been bent when it comes to low-income minority consumers. Often times minorities are exposed ...

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the graph.













As you can see that at the equilibrium point of $4.25 all participants in the market are doing as well as they can, given the condition in the labor market. (Goodman & Dolan 171) If minimum wage is raised to $5.50 unemployment will grow. The reason for this is that the supply exceeds the demand. The equilibrium point does not change because of the legal requirements and the net effect is unemployment and/or less work for the workers. Just as a worker will only offer his labor time for a wage he finds beneficial, so an employer will only be willing to pay workers a wage that permits him to earn a profit. The higher the wage, the fewer workers the ...

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PAPER DETAILS
Added: 1/3/2004 04:05:34 PM
Category: Political Science
Words: 1982
Pages: 8

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