The Minimum Wage Policy And Function - 862 Words

Social Welfare Function Distribution and redistribution of basic income has always been a subject of debate in the United States. Devising a method of distributing and redistributing national resources among poor has always been a challenge among the scholars. The minimum wage policy and function has attempted to address the income inequity among the citizens of the United States. The work of Aboudi et al (2014), attempted to address this issue by proposing a model to be used for designing a basic income system having a social welfare function. This is simply to say designing a minimum wage system having part of the income sourced from direct state funding. There are several problems that led to the institution of the minimum wage laws in many states. One of the problems was low living standard among the unskilled population in many countries caused by the inadequate salaries that organizations paid the unskilled workers (Hansen Machin, 2002). The low-income made these people langui sh in poverty as they could not meet the three basic needs that are food, clothe and shelter. Increasing income to these persons would also lead to economic growth as there could be an increase in money exchange. The government also wanted to solve the problem of inequality in the wage distribution between the skilled and the unskilled workers. Organizations paid their skilled employees high salaries as compared to the low salaries paid to unskilled ones such as cleaners, security personnel andShow MoreRelatedUse the case of the recent legislation of the minimum wage to discuss the positive function and negative function of the social policy in Hong Kong society.  3029 Words   |  13 PagesHong Kong had issued an increase of the Statutory Minimum Wage (SMW) from $28 to $30. Setting SMW at an appropriate level is vital to striking the balance between the objectives of forestalling excessively low wages and minimising the loss of low-paid jobs, while sustaining Hong Kong’s economic growth and competitiveness (2012 report of the minimum wage commission, 2012). To fulfil this aim, the government have decided to increase the minimum wage rate in order for the people receiving the low-paidRead MoreBarbara Ehrenreich s Nickel And Dimed1600 Words   |  7 Pagesour society is crucial to understanding when looking through a social development lense. There are many ideological political routes to take to help mitigate or resolve the poverty issues within the country, which can be looked at through social policies and social development. Ehrenreich provides a qualitative research analysis into the life of those living in poverty through a covert field research perspective. The welfare state has always been a controversial topic within Canada, throughout theRead MoreHow Apple Inc. s Production Function1191 Words   |  5 PagesHow Apple Inc.’s Production Function relates to its Marginal Product of Labor Any firm’s production function relates to its marginal product of labour. The production function is used to explain the relationship between the quantity of the inputs used in the production process, and the firm’s production capacity in relation to other factors of production such as labour and capital. The marginal product of labour is the increase in the amount of output from an increase in unit labour supply. ThereforeRead MoreMinimum Wage : The Exploitation Of Workers1538 Words   |  7 PagesMinimum wages offer a meaningful question about the exploitation of workers. It identifies the significant problem of exploitation of workers by employers and seeks to promote a fair wage structure. This enables a convincingly possible minimum accepted standard of living for low-paid workers and in any attempt alleviates poverty, creating self-sufficient working families. Minimum wage was first introduced in Australia during the late 1800s to combat manufacturing ‘swea tshops,’ subsequently beingRead MoreThe Issue Of The Minimum Wage1514 Words   |  7 Pages6-8 pages The issue of the minimum wage has recently come to the forefront of the debate on social policy. There is much disagreement over the wisdom of an increase in the minimum wage in the current fragile economic recovery. Some argue that a dramatic increase is what is needed in order to lift the standard of living for those in the bottom of the economic pyramid. Economists reason that the basic principle of supply and demand mandates than an increase in the wage would result in the loss ofRead MoreThe Implementation Of The Minimum Wage1356 Words   |  6 Pagesapproach; and it constitutes the basis for the argument that an effective system for implementing minimum wage should combine soft mechanisms (such as persuasion and capacity building) and hard mechanisms (e.g. sanctioning), as well as measures to empower workers. 3.1 Disambiguation of terms: Compliance, Implementation and Enforcement The scope of this paper is to illustrate how compliance with the minimum wage can be achieved. In the present framework, the term â€Å"compliance† is used as in Young’s definition:Read MoreMinimum Wage Is A Bad Idea890 Words   |  4 Pagesâ€Å"Raising the Minimum Wage is a bad idea† I. Over the past few years the Minimum Wage has become a controversial topic to people and politicians. As we all know people everywhere are talking about that we need to increase the minimum wage again. Some people don’t realize that increasing the minimum would have principal’s effects on low-wage workers. For instance, most low-wage workers would receive a higher pay that would increase their family income. Yet, some jobs for low-wage workers would probablyRead MoreThe Westpark Store Case Analysis1303 Words   |  6 Pagesdevelop an organizational structure of human resource functions within Westbrook. McCain views her role as human resource manager more as a supervisor of the human resource department, hiring and disciplinary specialist. She self-identified her strengths as the selection, hiring and training functions, but she admittedly falls short with employee evaluation, development retention and turnover. It appears that she wishes to centralize HR functions and operations within the human resource departmentRead MoreFederal Minimum Wage Should Be Increased1180 Words   |  5 Pagesto come to conclusions that the federal minimum wage is excessively low. The government can stand to help people gain more money, resulting in a less poverty-stricken country. The cost of living or gaining has increased significantly over the past twenty years, and the minimum wage, for most isn t enough for them to support themselves. There have been efforts to increase the federal minimum wage, but none has succeeded in getting approved. Minimum wages are too low for a human, to provide forRead More The Negative Effects of Raising the Minimum Wage Essay1552 Words   |  7 PagesIf we took away the minimum wage, we could wipe out unemployment completely because we would be able to offer jobs at every possible skill level. -- Michele Bachmann Proponents of raising the minimum wage claim that if the minimum wage was raised, then many economic and social problems would be alleviated. This contention is at odds both with economic principles and years of creditable research. The effect of raising or even having a minimum wage has been studied extensively and the