Economic View Of Raising The Minimum Wage Essay - 1791 Words

Economic View of Raising the Minimum Wage Minimum wage has been a touchy subject for decades, but especially in this election year, it is more profound than ever before. With candidates screaming at each other, it’s important for the citizens of America to know the facts about minimum wage along with the costs and benefits. Continue reading to discover the truth about wages in America. From a small business owner perspective, it is safe to say people are split 50/50 about raising the minimum wage. The supporters think a raise will have more positive externalities than negative. For example, some predict more money will be in worker’s pockets which will allow them to buy more goods from small businesses and therefore, aid small businesses (Harrison, J.D., 2014). Continuing with this idea, if worker’s have more money, then there will be more money put back into the economy, in general, benefitting all businesses—not just the small ones. Another prediction, f rom small business owners, is increased worker productivity. This increased productivity is caused by the incentive to work hard when it is rewarded (Harrison, J.D., 2014). On the other hand, not all small business owners agree with a raise in the minimum wage. In fact, some see no benefit at all arguing they are barely surviving after the previous raise in federal minimum in 2007 (Harrison, J.D., 2014). To put it simply, some can’t afford to pay their workers more at this time. Still, others say a raise simply wouldn’tShow MoreRelatedMinimum Wage And The Wage1639 Words   |  7 PagesMinimum wage is one of the many microeconomic policies that serve to correct imbalance in the economy. It is defined as the lowest amount of remuneration required of an employer to pay his employees during a given period of work. There exist different laws in different states that can fix the minimum wage policy. A current economic issue is minimum wage, or specifically, its pertinence t o social inequality. Many sectors of society would be affected by changes in this policy. Minimum wage relies onRead MoreTodays Social And Economic Inequality Is A Matter People1343 Words   |  6 Pages Todays social and economic inequality is a matter people are faced with in their daily lives. Many Americans are currently unable to reach their full potential due to the lack of financial stability in the work force, and are incapable of providing stable income for their dependents. Krugman, like many Americans, believes that change is the only way to help close the ever-growing gap between upper class Americans and those who are middle class or below poverty level. In Krugman’s essay â€Å"ConfrontingRead MoreIf Minimum Wage Raise Up945 Words   |  4 PagesIf Minimum Wage Raise up In many cases in the U.S. people are suffering from the very low hourly wages. According to David Cooper: â€Å"As wages go down, the percentage of workers relying on public assistance gets higher: 60 percent of workers earning less than $7.42—only slightly higher than the $7.25 federal minimum wage—receive some form of means-tested public assistance.† Because the minimum wage is so low, many people are forced into programs, such as Medicaid, food stamps and the Earned IncomeRead MoreArticle Rebuttal: Minimum Wage Essay1192 Words   |  5 PagesArticle Rebuttal: Minimum Wage Over the years there has been much debate about raising the federal minimum wage. Some states have taken it upon themselves to set higher minimum wages than the federal minimum wage, because of the lack of action by congress. The supporters of the raising of the federal minimum wage have been more vocal lately. This is especially true since studies have shown, that the gap has grown between the wealthier population, and the middle class. Recently President Obama, becauseRead MoreBenefits Of Raising The Minimum Wage908 Words   |  4 PagesIn our modern society one of the seemingly least controversial topics is the minimum wage. The popular opinion wants to raise the minimum wage, but is the popular opinion always right? Throughout recent years, politicians have made promises to raise the minimum wage to help low-income earners live a better life. Contrary to popular belief, raising the minimum wage actually hurts low-income earners and low-skilled workers. We must first define a low-skilled worker. A low-skilled worker does not meanRead MoreMinimum Wage1535 Words   |  7 PagesThe standard minimum wage level has been a controversy over its insufficient wages set for working class Americans. The minimum wage was established to protect unskilled workers from being exploited by employers’ low pay. Introducing the minimum wage provided stabilization in the workplace, but as the cost of living increases, working Americans are demanding a livable wage. In the recent past, the American dream fadedness changed the way Americans view the economy. For many wageworkers, the AmericanRead MoreEssay on The Debate over Raising the Minimum Wage1502 Words   |  7 PagesThe federal minimum wage was raised to $7.25 an hour by Congress in 2009, something that has been carried out only a handful of times since the establishment of the wage in the Fair Labor Standards Act in 1938. Even with this modest rise in income, the minimum wage today does not provide for a decent standard of living. It has failed to keep pace with the wage growth of an average American worker. The minimum wage was intended provide a minimum standard of living; to aid in alleviating povertyRead MoreShould The Minimum Wage Be Raised?1307 Words   |  6 PagesSHOULD THE CURRENT MINIMUM WAGE BE RAISED TO $15.00? Fred Wehmer Embry Riddle Aeronautical University Author Notes Fred W. Wehmer, Professional Aeronautics, Embry Riddle Aeronautical University Contact: wehmerf@my.erau.edu ABSTRACT Fred W. Wehmer Embry Riddle Aeronautical University Rolf Hemmerling /ECON 211 11 October 2015 This paper will explore the pros and cons of raising the current minimum wage to $15.00. It will start with the history and reasons for the minimum wage. It will cite theRead MoreMinimum Wage Should Be Increased1057 Words   |  5 PagesRebecca Nevins Meredith Sides English 101 16 November 2015 Minimum Wage Should Be Increased Congress enacted the federal minimum wage in 1938, during the Great Depression. Congress had two goals; keeping workers away from poverty and boosting consumer spending for economic recovery. Today, there is a debate, whether we should increase the minimum wage again. Increasing the minimum wage is useful for several reasons. First, the current minimum wage has failed to keep up with inflation. Second, a higherRead MoreEssay on The Minimum Wage Should Be Increased1048 Words   |  5 Pagesfederal minimum wage in 1938, during the Great Depression. Congress had two goals; keeping workers away from poverty and boosting consumer spending for economic recovery. Today, there is a debate, whether we should increase the minimum wage again. Increasing the minimum wage is useful for several reasons. First, the current minimum wage has failed to keep up with inflation. Second, a higher income level reduces employee turnover and increases efficiency and ultimately, raising the minimum wage d oes

Are Women Earn 77 Cents On The Dollar Versus Society

We’ve been told this lie before, even from the President of the United States. Women earn 77 cents on the dollar compared to men. (Kessler, Glenn) There have been articles, reports, and social media activism promoting equal pay. I’m here to take an unpopular, but necessary, opinion. The wage gap as you know it is a myth. It’s a product of bad statistics and bad economics. The largest factor behind wage inequality, of the sexes, is getting men and women into different occupations without societal judgment. Men are focusing on jobs with higher economic outlook, and women are focusing on jobs that are most beneficial to the community. (Solis, Hilda S, Keith Hall) While there is nothing wrong with that, it does lead to a perceived pay disparity. This issue is fundamentally misleading and economically illogical. It is being posed as unequal work for equal pay, when the reality is that it’s an unequal workforce. It’s been argued by some that the addition of women to certain fields has been known to lower average wages. This may be explained by considering that when you add more supply to an occupation, the demand needs to increase as well or the prices will stagnate or fall. A study would have to control for overall number of occupants in a field relative to its demand to prove this. The purpose of this essay is to explain how you actually determine pay inequality, what it actually is, and what is actually causing the statistics we’re seeing. This movement caught fireShow MoreRelated Discrimination in the Workplace Essay1523 Words   |  7 Pages Discrimination in the work place towards women is extremely common and occurs in everyday life. You can prove this by explaining how women in the workplace get paid, get promoted and get treated based on their sex. Sex discrimination in the workplace comes with many different faces. In its most basic form, it involves outright exclusion of women, solely by reason of their gender. Even where women have gained access to the workplace, sex discrimination may persist in other ways. ExamplesRead MoreThe Social Problem Of The Gender Wage Gap3058 Words   |  13 PagesApril 8 is â€Å"Equal Pay Day,† which is an event where the main purpose is to raise awareness in regards to the social problem of the gender wage gap. The president makes his announcement that women still earn only about 77 cents for every dollar a man earns. There are people advocating left and right for women to take a stand and sue their employers for wage discrimination or make demands they want the government to fulfill. The question becomes whether or not what everyone is fighting for is actuallyRead MoreSocio Cultural influences on sexuality809 Words   |  4 Pagesï » ¿ When examining influences on sexuality one has to look at many different factors. One of those factors that has an influence on sexuality is the culture or society that person is from and their expectations of sexual behavior. Gender identity, their roles, and stereotypes associated with a person’s gender also play a part. Finally the psychological impacts of these expectations and how commercial sex influences expectations and perceptions of sexualityRead MorePushing the Glass Ceiling1840 Words   |  7 PagesWomen have been pushing at the glass ceiling for years, but have yet to shatter it. The glass ceiling has prevented women from reaching their highest potential in the work force. The inequality between men and women has been prevalent because of unfair stereotypes and the idea that women are unfit leaders. Ann Morrison describes the glass ceiling as a barrier â€Å"so subtle that it is transparent, yet so strong that it prevents women from moving up the corporate hierarchy†(Empowering Women). It is oftenRead MoreKate Talk By Chimamanda Ngozi Adichie1643 Words   |  7 PagesShe states that this is the first definition of feminism she encountered, when she was told by her childhood friend that she was a feminist. This definition is also brought up in Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg. She presents statists regarding this definition. She says that when women are asked if they are feminists, 24% say that they are, but when they are presented with the definition, the percent jumps to 65%. She says that our success lies in understanding what weRead MoreSex Based Discrimination Within The Workplace Essay1821 Words   |  8 Pagesworkplace Women make up 49.5% of the population in the world (The World Bank, 2016). On April 08, 2014, President Obama had announced a national statistic during his State of the Union address. â€Å"Today, the average full-time working woman earns just 77 cents for every dollar a man earns...in 2014, that s an embarrassment. 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Women have manufactured huge developments in careerRead MoreThe Body Development And Composition Of Men And Women Essay2297 Words   |  10 Pages From the beginning of time, men and women have competed against one another over many aspects of life. By this, I mean intellectual differences, work ethic, and how each gender is suppose to behave in society. The examples above cannot be, in any way, biased towards any particular gender; meaning when it comes to education, work ethic, and social roles, men and women are completely equal and should be treated as such. However, when referring to the physiological differences between the body development

What is the Impact of Downsizing Free Essays

As the studies below indicate, layoffs have a number of negative effects not only on workers in different industries, but also on their communities and the market as a whole. Although it has been said that downsizing can be economically beneficial to companies, the following shows that there are two sides to this issue. Over the past decade, the workplace has altered considerably in terms of job stability. We will write a custom essay sample on What is the Impact of Downsizing or any similar topic only for you Order Now People have either experienced layoffs firsthand or directly known someone else who was impacted by re-engineering, downsizing, outsourcing or acquisition. For employees adversely affected by these changes or for those who do not completely understand why these changes are occurring, the effects can be very disturbing and impact both their personal and job life. A variety of different industries have been impacted by layoffs, not only manufacturing. For example, hospitals like other companies and nonprofit organizations have experienced downsizing that has negatively impacted healthcare employees with varying degrees of psychological distress and poor health. In a 2002 study, Greenglass, Burke and Fiksenbaum showed that restructuring and its changes can result in lower job satisfaction and job insecurity. The researchers studied the relationship between impact of restructuring, job satisfaction, job insecurity and absenteeism in nurses. The results were similar to earlier studies indicating that job insecurity can often have harmful consequences for individuals. Job insecurity has frequently been reported to lead to decreased psychological well-being (Dekker Schaufeli, 1995; Ferrie et al. , 1998). In a study of Finnish employees, Kinnunen et al. 2000) reported that job insecurity, which led to negative relationships with colleagues and superiors, was still being noted at least one year after the event. The respondents of the Greenglass study, who consisted of 1,363 nurses employed in hospitals that were undergoing extensive restructuring, first filled out a self-report anonymous questionnaire. Results of this study demonstrated that the impact of hospital restructuring had a direct effect on job satisfaction, which in turn then had a pointedly negative impact on absenteeism and on job insecurity. In addition, the study found that the more the nurses believed hospital restructuring had lowered the quality of health care and had had a negative impact on working conditions, the less likely they were to experience job satisfaction and the more apt to report feelings of job insecurity. Findings further demonstrated that job satisfaction functioned as a intermediary between the impact of restructuring and job insecurity: That is, lower job satisfaction resulting from a greater impact of restructuring led to decreased job security. The impact of restructuring also placed an indirect effect on absenteeism through job satisfaction. The lower the job satisfaction, resulting from restructuring, the more likely the nurses were to be miss work. These results were similar to prior studies that linked layoffs with an increased amount of job insecurity. Campbell-Jamieson, Worrall, Cooper (2001), for instance, compared responses from managers in three different business settings: organizations that restructured and downsized in the previous year, those firms that restructured without downsizing, and companies that had not restructured. Managers in organizations that had downsized had less job security, lower organizational commitment and reduced morale. Research has also demonstrated that reorganization can lead to greater emotional turmoil, including such feelings as anger, anxiety, cynicism and resentment (O’Neill Lenn, 1995). Burke Nelson (1997) found that this is most likely the result of a variety of negative observations throughout the restructuring, such as the belief that workers were treated unfairly, the psychological contract was eroded, and future employment would be insecure. The findings by Greenglass additionally showed that the restructuring impacts job insecurity in both direct and indirect ways. In other words, an effect of downsizing is lower satisfaction with one’s job. This is most probably the result of disillusionment as well as feelings of being let down by the company and uncertainty about one’s employment in the future. Decreased job satisfaction then leads to lower job security. The researchers do note, however, that these increased feelings of disillusionment and decreased feelings of job satisfaction and job security can be reduced if the organization’s administration does its best to offer support, information sharing, and input into decision-making. To the degree that healthcare workers believe they are important to the hospital and that the institution cares about them and their opinions, the effects of restructuring can be considerably decreased. The impact of downsizing on workers is a combination of both the psychological and physical. Kivimaki et. al (2000) conducted a study to explore the underlying mechanisms between organizational downsizing and deterioration of health of employees. He found negative changes in work are associated with the declining support from aspouse, and increased prevalence of smoking. Sickness absence rate from all causes was 2. 17 times higher after major downsizing than after minor downsizing. Adjustment for changes in work, for instance, physical demands, job control, and job insecurity, diminished the linkages between downsizing and sickness absence by 49 percent. Adjustments for impaired social support or increased smoking did not change the relationship between downsizing and absence from illness. Such conclusions were unaffected by sex and income. Kivimaki concluded that the exploration of potential mediating issues offers new knowledge concerning the possible causal pathways connecting organizational downsizing and health. Downsizing results in changes in work, social relationships, and health-related behaviors. The noticeable increase in certificated sickness absence was partially explained by simultaneous increases in physical demands and job insecurity and a decline in job control. A reduction of employees leads to a number of negative effects; the closing of an entire plant or business can even result in greater problems. The recent economic history of Cleveland County, North Carolina, has been distinguished by factory closings, business layoffs, and significant unemployment rates. More than 3,500 workers have lost their jobs in this area in the last four years. This, in fact, may even be an underestimation, since it applies to events that involve 50 or more workers at a time. Many other smaller firms have fired workers as well. Such numbers are extremely significant since the county’s labor force only numbered around 42,000 workers to begin with. Layoffs have been devastating to workers and their families. In the very best cases, unemployed workers were able to find other work, but normally there was a temporary loss of income and a reduction in pay. In the worst situations, these workers remained unemployed forever, either because they lacked the necessary skills for available jobs or believed themselves too old to move or go back to school. In such situations, economic dislocation also creates problems for the greater community. When unemployment rates rise, there is an increased demand for services at a time when communities are experiencing sharp declines in tax income. These decreases often result in poorer quality education, a deteriorating infrastructure, and larger welfare rolls, which make it more difficult to attract new businesses to the area. Thus, it is not always just the employees who are impacted when there is restructuring. A literature review of downsizing studies by Farrell (2000) also showed the connection between downsizing and the impact on market orientation. Specifically, his report gave evidence that (1) trust and commitment are keys to understanding the exchanges between a company and its workers; (2) the form of restructuring strategy will impact upon the degree of trust between personnel and senior management (Mishra and Mishra 1994) and will also directly effect the firm’s market orientation; (3) the type of downsizing strategy and trust level will directly impact worker commitment to the firm’s goals of creating high-quality customer value; and (4) employee commitment to such company values will impact the level of market orientation (Narver, Slater and Tietje 1998). Survivors of downsizing are impacted as well, as seen in a number of studies. In a longitudinal study, Moore, Grunberg and Greenberg compared 1,244 white- and blue-collar workers who recalled either zero, one, or two exposures with layoffs; all participants were personnel of a major industrial company that had had several large episodes of layoffs. They found that employees with the greatest number of contacts with downsizing both direct, or personally targeted, and indirect, coworkers laid off, noted considerably lower levels of job security and higher levels of role ambiguity, desire to leave their jobs, depression and health concerns. Contrary to what some others had thought, their findings did not support the notion that workers more quickly recover as they encounter a larger number of downsizing episodes. They also found only partial evidence that the similarity-that is, either repeated direct or repeated indirect layoff contact–or dissimilarity-that is, a combination of direct and indirect contacts–of the form of repeated downsizing exposure played a role in the amount to which personnel noted changes in outcome variables. Similarly, Masi (2000) looked at several pervasive ideas: First, that negative effects on the employees’ morale who have survived downsizing may be so harmful to overall productivity that they overshadow any immediate economic gains the workforce reductions may bring. Second, those managers who are capable of eliciting trust and organizational commitment among employees as well as generally good labor relations may largely reduce or even eliminate the possible ill-effects of downsizing. Third, is it true as a number of political economists who are critical of the free-market model in the U. S. have argued that a crucial factor in helping reduce the fears and anxieties caused by industrial layoffs is the degree of employment and/or income security available to employees outside their current place of work? Fourth, recent research concerning the presence of unions suggests that the overall character of the industrial relations system will strengthen or weaken the negative effects of downsizing. In his article, Masi reported findings from a Swedish-Canadian comparison of blue-collar manufacturing workers who had been exposed to various kinds of change, including downsizing. The results provided strong support for the belief that experience with layoffs has a strong negative impact on survivor concerns everywhere. Simultaneously, there is also some evidence supporting that the amount of externally provided security has some mitigating effect on survivor worries, and the presence of unions within a strongly adversarial system of labor relations can increase such concerns. However, the quality of labor-management does not seem to have much of a helpful effect on the negative impact of downsizing. In the future, as downsizing continues, additional studies will have to be conducted to determine long-range impacts on individuals, their families, communities and the economy as a whole. How to cite What is the Impact of Downsizing, Essay examples

Effect of Remote Systems in Car Industries

Question: Discuss about the Effect of Remote Systems in Car Industries. Answer: Introduction Use of remote system employs the use of modern communication technologies such as computers in running car industrial production processes. The element is crucial in the industry since it led to the improvement of in the visibility of operational car industries regarding operations and the condition of systems, equipment, and devices. The systems are also paramount in aiding improved operational productivity and efficiency by leveraging the power of information technology automation. The remote system used in this perspective is the digital group's remote monitoring and management. The utilization of the scheme has led to the growth and expansion of car industries and even easing service delivery in the sector and also in the operation of the product produced ranging from maintenance of the product to security of the product as well(Tao, et al., 2015, p. 1). The paper gives some of the ways remote system management has affected car industries. Market Access It is significant in broadening access to a market of the newly manufactured vehicles. Companies are also able to establish clear differentiation amongst car makers regarding the products made. Examples of such platforms entail Google and Apple that have auto and car play smart phones integration. Good remote management systems ensure that opportunities for new technologies are given a room which has encouraged innovation and invention in the automobile industries. Hence, enhancing production of new improved brands of vehicles that are faster regarding speed, more durable, comfortable and less fuel consumption. Creation of networks of independent services Remote system management has enhanced provision of networks of independent services.This has been improved through the creation of service division offering telematics. Examples include BMW and Acura brands. It has enhanced manufacturers to deploy and update connected quickly, and services and even the human machine interface with vehicles thereby ensuring continual compliance with changing regularities or guidelines. Quality of production has been improved Ensures the system has basic characteristics such as the capacity to launch and keep applications to date. Such requests have reduced the cases of car breakages. Hence, durability has been enhancing due to the use of remote systems in producing manufacturing of automobiles. Access to services It has led to easy access to services.An example is an application such as car care app links helps drivers of vehicles to obtain maintenance, warranty, and vehicle information schedule service appointment and dealership. Another example is the production of the wireless car which is an automatic telematics service provider that has provided production companies with customized telematics services to put to an end global basis customers. Restructuring of companies It has led to the repositioning of businesses whereby due to the introduction of remote system management, companies have manufactured connected brands, a top priority in the industries. In this essence, the car companies have adopted thinking like electronic companies. The traditional production companies are repositioning themselves to fit the current era and also new players are joining the arena(Simpson, 2014, p. 22). To sum up, the aspect of employing remote system management in car production as evidenced in the above discussion, cars industries have grown to a profound extent in terms of quality production, secured vehicles that are easy to track when stolen, new systems introduced resulting to repositioning of the industries, easy access to market and services. The system has, therefore, let to growth in the automotive sector to a large extent. References Simpson, J., 2014. Autonomous vehicle regulations must protect the user's privacy; consumers watch dogs.. 1 ed. Chicago: online blog. Tao, J., Sajid, H. Anand, T., 2015. Self -Driving Cars : disruptive or incremental?. Innovation Review Journal, 1(1), pp. 1-20.