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 ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

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 ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.

Already a member? Login

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 ...

Succeed in your coursework without stepping into a library.
Get access to a growing library of notes, book reports,
and research papers in 2 minutes or less.


A Case Against The Minimum Wag. (2004, January 3). Retrieved May 20, 2019, from http://www.essayworld.com/essays/A-Case-Against-The-Minimum-Wag/915
"A Case Against The Minimum Wag." Essayworld.com. Essayworld.com, 3 Jan. 2004. Web. 20 May. 2019. <http://www.essayworld.com/essays/A-Case-Against-The-Minimum-Wag/915>
"A Case Against The Minimum Wag." Essayworld.com. January 3, 2004. Accessed May 20, 2019. http://www.essayworld.com/essays/A-Case-Against-The-Minimum-Wag/915.
"A Case Against The Minimum Wag." Essayworld.com. January 3, 2004. Accessed May 20, 2019. http://www.essayworld.com/essays/A-Case-Against-The-Minimum-Wag/915.
Join today and get instant access to this and 50,000+ other essays

Added: 1/3/2004 04:05:34 PM
Category: Political Science
Type: Premium Paper
Words: 1982
Pages: 8

Save | Report


Save and find your favorite essays easier

Garrett Hardin In "Lifeboat Et...
Hardin's "Lifeboat Ethics: The ...
The Anti-Trust Case Against Mic...
The Anti-Trust Case Against Mic...
Analysis Of Rich And Poor And T...
Greenspan - The Case For The De...
Greenspan - The Case For The D
A Fatal Mistake The Vietnam Wa
Sex Education in the Philippine...
Oliver Cromwell
Copyright | Cancel | Contact Us

Copyright © 2019 Essayworld. All rights reserved