...Cannot ignore the issue of humane working conditions • Wage gap, class issues, race issues, gender issues will inevitably be brought up • Government vs private institutions Pros Raising the minimum wage would increase economic activity and spur job growth Increasing minimum wage would reduce poverty Cons Increasing minimum wage would force businesses to lay off employees and raise unemployment levels Would increase poverty Higher minimum wage would reduce government welfare spending Would hurt businesses and force companies to close The minimum wage has not kept up with inflation Would increase price of consumer goods Improvements in productivity and economic growth have outpaced increases in minimum wage Teenagers and young adults may be shut out of the workforce if minimum wage is increased Increasing minimum wage would reduce income inequality Would disadvantage low-skilled workers Minimum wage increase would help to reduce race and gender inequality...
Words: 939 - Pages: 4
...The minimum wage rate is introduced in this essay, with the perspectives of weighing the benefits with that of the costs of the national minimum wage. The essay goes about discovering what exactly is minimum wage and how it impacts the economy. Moreover, the advantages are compared against the disadvantages of the minimum wage rate. Furthermore, it also covers the detailed consequences of increased minimum wage after a research on what economists have surveyed about the recent increase in the minimum wage. Thus, this essay has thoroughly evaluated the pros and cons of implying with the law to allow for national minimum wage in the labor market. The minimum wage act was created in the 1938T as Fair Labor Standards Act, which makes it legally compulsory for the employers to pay their employees for the period of time worked. The minimum wage could be defined as the “minimum rate of remuneration that is must to be paid to a wage employees for the work they have done over a period of time, which cannot be neglected or reduced by individual contract and collective agreement”. The eligibility of minimum wage is that it is allotted to workers who are below 20 years old, for long as the probationary period lasts that is for almost 3 months. The minimum wage rate...
Words: 1311 - Pages: 6
...Federal Minimum Wage Proposal Research Essay MDH-ECO210 President Obama has proposed to increase the Federal Minimum Wage to $10.10 as well as increase the Earned Income Tax Credit among other items associated with this. There are those who oppose the increase to Federal Minimum Wage as well as those who support this proposal. What we have to question when looking at this increase is whether or not it will actually help the economy or if it will simply raise costs of everything we buy on a daily basis. It is necessary that “businesses need to have money available to pay for labor, materials, power, and other inputs” (McConnell, Brue, Flynn, 315). It is debated if raising minimum wage will stifle these businesses, by increasing their pay rate for labor. There are many factors to consider when looking at this proposal that has a multitude of pros and cons. If this constant debate continues as it has in the previous instances then the typical result will be that most Republicans will oppose the proposal while the majority of Democrats will be in favor of passing the bill. President Obama is quoted as saying in his State of the Union address that “in the wealthiest nation on Earth, no one who works full time should have to live in poverty” (Hassett, Strain, 2013). The case that is made against raising the minimum wage is very simple; by raising the minimum wage it makes it more expensive for businesses to hire employees. Those who retain their jobs will make more money;...
Words: 1564 - Pages: 7
...MBA 5652 Unit 1 Research Proposal Topic Exercise 1 My top ten research topics that I find interesting to pursue are the following: (1) approach for extra ( increase in minimum wage) income and advertising, (2) concussions in football, (3) should transportation security (TSA) regulations be changed ?, (4) should regulations regarding the use of cellular phones while driving be standardized ?, (5) should driving under the influence (DUI) laws be changed ?, (6) concealed guns be permitted in stores, (7) computer forensics, (8) financial crimes, such as embezzlement, (9) cyber terrorism, (10) cyber criminology, internet child pornography. The new approach for extra income appeal to me because as a consequence of the current enhancement in minimum earnings, there is an boost in the optional profits of existing marketing foundation. Concussions in football also appeal to me because I have two children that play football and I do not want them to experience the problems that college and pro players are having. I believe that the transportation security (TSA) regulations should be changed so that it allows the TSA to protect the United States and its populace. In my opinion the regulations regarding the use of cellular phones should be standardized because different states have different laws regarding the use of cell phones. The last topic in my top 5 is should the laws concerning DUIs be changed. I say yes they should, meaning right now some states have the blood alcohol...
Words: 2527 - Pages: 11
...Business Strategy Case 3 The O-Fold Kyle Huffman Olds College Submission Date: February 14 2013 O-Fold Business Opportunity Introduction Alex Richards was a 4.0 GPA student, double majoring in finance and accounting. Before taking a trip to Colorado, Alex was faced with a problem: whether or not to take a suit on the plane, he did not want to wear it on the plane nor pack a suit case due to having the clothing wrinkle. He came up with the idea of the O-Fold, a cylindrical tube that clothes could be wrapped around, secured with straps, packed into tight spaces, and arrive wrinkle free. After completing a preliminary patent search online and finding nothing similar to his idea, Alex had to make a choice whether or not to start a company. He came up with four options, sell the idea, license the idea, outsource production, or use a crawl-walk-run strategy. External analysis With more then $5 billion in sales the luggage industry strengthened, as the baby boomer generation reached its peak travel ages (45-54). With profit margins growing from 28.9 percent in 1990 to 45.9 percent in 2000 the industry is looking profitable. As well having around 75 percent of the merchandise imported, this lowers the cost of production and materials. An important trend to look at is the use of handbags or carry on items. With the rising cost of fuel airlines started charging for check baggage, resulting in an increase of people buying carry on/handbags. Handbags sales increased from 3...
Words: 1664 - Pages: 7
...Title: Boycotting Sweatshops Name: Guangzhen Lyu Student Number: 300772748 Professor’s Name: Catherine Boote Date of submission: Nov 28, 2014 Boycotting Sweatshops! The sweatshop is like a juicer exploiting cheap labor. At present, going with the development of economy, cost of manufacture is increasing rapidly; many companies are building factories in developing countries. Because it can help them to reduce the production costs. Unfortunately, some factories are sweatshops. And what is sweatshop labour like? Sweatshop laborers generally work 60-80 hours per week and are not paid enough money to put food on the table; they sometimes receive only pennies a day for their labor. Often, the sweatshop environment is unsafe – workers are harassed, intimidated, forced to work overtime, and made to work in dangerous and unhealthy environments, even while sick. Workers handle toxic chemical paints, solvents, and glues with their bare hands. (Michael Conlan, 2010) And the workers of sweatshops are working in terrible working environment, enduring the huge working pressure, and losing legal rights. One of the reasons why do we against sweatshops is they usually with the uncomfortable and unsafe environment. Firstly, sweatshops...
Words: 895 - Pages: 4
...------------------------------------------------- Employment relations essay “Management should have the right to determine whether a union should operate within their workplace” Discuss. Due April 27, 9AM By cassidy Eastabrook 2171192 Due April 27, 9AM By cassidy Eastabrook 2171192 Introduction Unions have been a heavily debated topic in Australian workplaces for decades. Some see unions as unnecessary evils, interfering with employee obedience and trustworthiness, the overall employment relationship and an organisation’s practices. On the contrary, many other employers and employees see unions as a channel for collective bargaining and better employee representation. Throughout the years of debates one question has remained prominent, “Should management be able to dictate whether or not a union should function within their workplace?”. This question is, of course, controversial resulting in their being no clear cut answer. On one hand, some may argue that should management have this right, organisations may experience increased managerial prerogative, boosted productivity and performance and decreased levels of conflict. However, on the other hand, critics disagree, stating that whilst this may be the case, the overall wellbeing of employees will suffer as they are taken advantage of through individual contracting. This essay aims to delve into both perspectives; the perspective of management and the perspective of the employee and identify more clearly the benefits...
Words: 2108 - Pages: 9
...Trade Union Decline: Australia Sarah Jury An essay discussing the factors contributing to the steady decline in trade unionism in Australia since the 1980’s and the relevance of unions to workers today. M G T S 2 6 0 7 : E m p l o y m e n t R e l a t i o n s W o r d C o u n t : 1 9 8 2 Sarah Jury Trade Union Decline in Australia 42395582 There has been a dramatic decline in trade union membership rates across Australia since the 1980s. In 1986, 46% (or 2.6 million) of employees were trade union members; this figure has steadily declined to 19% (or 1.7million) of employees in 2007 (Australian Bureau of Statistics, 2009). By May 2010 trade union membership had fallen to a record low of 18% (or 1.84 million) of employees and remained steady for the past 3 years (Australian Bureau of Statistics, 2013). This essay aims to highlight the factors that have played a significant role in the steady decline of unionization in Australia. It focuses on the changing composition of the labour force, the change in governmental policies, the newly empowered role...
Words: 2917 - Pages: 12
...gradually increased its presence in our daily lives. In this essay, I will point out who are the ones benefited and the ones injured from it by breaking down the question in four broad aspects: economic, political, socio-cultural and environmental. Seemingly, I will analyse the causals for this particular outcomes and distributions that indicate that globalization is creating further divergence in our world increasingly fragmented and unequal. The globalization winners – predominantly developed countries, the top 1% wealthiest demographic segments, transnational companies (TNC’s), supranational organizations amongst others – deeply embedded in the neoliberal belief that markets are the answer to global growth through trade, fostered by incentives such as low tariffs and interest rates and minimal government intervention find themselves unattached to the markedly less benefited, the losers– developing countries, especially their poorest demographic segments, the low-skilled low-wage percentage of workforce, the unemployed, the minorities, women amongst others – who in turn find themselves trapped in this zero-sum cycle where one either leads globalization or follows it – at risk of falling behind – but not either. Globalization, as most concepts in IPE and other social sciences, is a highly contested concept and encompasses a wide range of topics such as money, ideas, cultures, etc. However for the purposes of this essay we will refer to the degree of countries’ interconnectedness;...
Words: 2982 - Pages: 12
...Choose one African country or society and critically assess both the positive and negative consequences of one aspect of globalization that is affecting this society. The International Monetary Fund defined globalisation as ‘the growing economic interdependence of countries worldwide through the increasing volume and variety of cross border transactions in goods, services and international capital flow’ (IMF, 1997). There was an increasing importance of an integrated economic platform in this new era. Nigeria made significant progress since it was first introduced into the globalisation process with Structural Adjustment Program, marking with a shift from protectionist policies to promoting free trade and economic growth. This essay will illustrate the pros of GDP growth and Foreign Direct Investment (FDI) manifested in economic globalisation of Nigeria, but evaluation will be made on the societal impact into the economy, such as income inequalities and labour exploitation. Capital inflows into Nigeria had grown immensely over the last decade in the process of economic liberalisation. It was considered as the 120th freest economy in the 2013 Index (Index of Economic Freedom, 2013). The FDI reached 11billion USD in 2009, ranking Nigeria at 19th to receive the most FDI in the world. Most prominent investors include USA Chevron Texaco and UK Shell penetrating the oil sector. China was becoming an important source of FDI recently, seeking to expand trade relationships, and Chinese...
Words: 2301 - Pages: 10
...Joshua Delacruz English 101 Mrs. Springstubbe Sept. 24, 2012 Personal Essay I said yes, even after my mother told me not to, even after I told my older brother not to two years before, but what could happen, maybe Bill wouldn’t need me so there would be no impact on me. That is what I was thinking in the middle of June 2012. This is about me willingly sacrificing my summer to go work in a small town in Nebraska that has a population of about 2,500 and is at least two hours from the nearest Wal-Mart. To add on I’m also accustomed to life in a city where there’s actually traffic, and used to the noises of emergency vehicles’ sirens going off at about 2 a.m. Both my dad and my uncle go almost yearly to a small town in Nebraska to work for a man named William V. Stroup, who owns a maintenance company that my dad and my uncle work in. My dad had gotten news that the bus that was bringing my uncle to Nebraska was hit in an accident and would not make it on time, or not all. At the time that this happened, it was about the middle of May and my dad had already left because Bill and my uncle would meet in Omaha, Nebraska and from there go to Valentine, where Bill Stroup lived and based his company. The work that the company does is mostly painting things in factories, farmhouses and large farm silos, and putting up signs for the companies they would work for. The work would be done mostly by my uncle and my dad, and Bill would work on getting the work, contracts from bigger companies...
Words: 1006 - Pages: 5
...18(3), 40-40-67,148. Retrieved from http://search.proquest.com/docview/203248794?accountid=35812 In the United States, right-wing hostility to female consumer advocates who held federal jobs or had the ear of federal officials was an important source of the crusade against "Communists in government," a primary engine of the Second Red Scare. The hunt for communists in the U.S. government, which began in the 1930s and reached a fever pitch in the 1950s, reshaped the terrain of party politics and halted expansion of the American welfare state. Conservatives' attack on the New Deal-often seen as triggered by the rise of mass production unionism-also was a reaction to the emergence of a consumer movement that was feminist, anti-racist, and pro-labor. That movement was predominantly female and wielded more influence over federal policy than scholars have recognized. Focusing on the League of Women Shoppers, the Consumers' National Federation, and the fate of their members who obtained positions in such government agencies as the Office of Price Administration, this article argues that conservative anticommunists' gendered animosity to the consumer movement was critical to the pre-history of the federal employee loyalty program created in 1947, and that civil servants with ties to consumer groups were prominent among that program's casualties. In May 1939, a front-page story in the Chicago Tribune warned that a "Communist-front" group called the League of Women Shoppers (LWS) was...
Words: 6635 - Pages: 27
...The economy was doing very good and the party appeared more united than at any time since 1945. The Conservative opposition was demoralise and press coverage, even from traditionally Conservative newspapers, was positive. Expectations of the new Labour government were very high, but Blair’s government found it impossible to deliver on all of the promises. In fact, they were ended up doing very little; one of the reasons could be that they were scared to make bold moves that would make them unpopular. Blair’s government could be divided into two phases: 1997-2001 and 2001- 2007. Blair’s policies were only adventurous in the second phase that Anthony Seldon said “He was a late developer. He began with a whimper, finished with a bang” This essay will assess Blair’s achievements and failure as Prime Minister and give conclusion on whether his premiership was a disappointment. The economy in 1997-2001 seemed very healthy under Brown’s Chancellorship. He decided that interest rates and inflation targets should be set by the Bank of England, not the government. Some saw this as a masterstroke as this would reduce political interest in the setting of interest rates although others said it was a convenient way of avoiding blame. Inflation was coming down and employment continues to go up. The economy carries on going; however, it is questionable that it is John Major or even Margaret Thatcher that paved the way to such a healthy economy. Major’s “poor economic record” was never justified...
Words: 1995 - Pages: 8
...Moving to the middle ground on globalization is difficult and will take time... But in order to achieve real progress, we must “break the ice” by taking the concerns of the critics seriously and responding with constructive action rather than just more talk.” In WEIGHING THE PROS AND CONS OF GLOBALIZATION this presentation, Weidenbaum makes five key recommendations: • Make the World Trade Organization More Transparent • Ease the transition of people hurt by globalization • Strengthen the International Labor Organization • Use the Internet to give consumers an educated voice on overseas production • Welcome voluntary business standards Murray Weidenbaum holds the Mallinckrodt Distinguished University Professorship at Washington University in St. Louis, where he is also honorary chairman of the Weidenbaum Center on the Economy, Government, and Public Policy. Dr. Weidenbaum served as Assistant Secretary of Treasury for Economic Policy in the Nixon Administration and as President Reagan’s first Chair of the Council of Economic Advisers. 1300 Pennsylvania Avenue, NW Washington, D.C. 20004-3027 www.wilsoncenter.org MURRAY WEIDENBAUM WEIGHING THE PROS AND CONS OF GLOBALIZATION Remarks by MURRAY WEIDENBAUM A Presentation to the Woodrow Wilson International Center for Scholars Washington, D.C. March 5, 2003 WOODROW WILSON INTERNATIONAL CENTER FOR SCHOLARS LEE H. HAMILTON, DIRECTOR PROJECT ON AMERICA AND THE GLOBAL...
Words: 5316 - Pages: 22
...WORKBOOK ANSWERS AQA A2 Economics Unit 3 Business Economics and the Distribution of Income This Answers book provides answers for the questions asked in the workbook. They are intended as a guide to give teachers and students feedback. The candidate responses supplied here for the longer essay-style questions are intended to give some idea about how the exam questions might be answered. The examiner commentaries (underlined text) have been added to give you some sense of what is rewarded in the exam and which areas can be developed. Again, these are not the only ways to answer such questions but they can be treated as one way of approaching questions of these types. Topic 1 The firm: objectives, costs and revenues 1 Both private and public companies are privately owned capitalist business enterprises. The difference stems from their ownership. Private companies are owned by private shareholders who can choose the buyer of their shares. Public company shares are listed on the stock market, which means that they have to comply with the rules of the stock market and any member of the public can buy shares in the company. 2 An excess of sales receipts over the spending of a business during a period of time, which can be calculated using the formula: profit = revenue – costs. 3 At any level of output, revenue is calculated by multiplying output by the price at which each unit of output is sold. In perfect competition, because it is always possible to increase...
Words: 13736 - Pages: 55
