Question

I believe that people can be health if minimum wage increasing

length 2000 word.

argument essay

Answer 1

Ans) Minimum-wage legislation has been to improve the terms of employment of the least-fortunate wage earners.

- Since the beginning of minimum wage laws in 1270 France the intentions of minimum wage legislation has been good.

- The idea is that a worker is worth a certain amount regardless of the work they are able to do. One can see how this could create inefficiencies in an economy.

- The law was meant to help poor families. Later in Britain, the father of economics, Adam Smith wrote his book called the wealth of nations. These basic economic principles can show the inefficiency of the minimum wage. If an employer is forced to pay more for labor, then in turn they must charge more for their product, or they must reduce the amount of on the job training.
Neumark and Wascher interjected: “Minimum wages were originally proposed [in the United States] as a means to combat the proliferation of so-called sweatshops in manufacturing industries.”(Neumark) child labor laws control the creation of sweatshops. Minimum wage Laws tend to force employers to pay more for labor that they perceive as less valuable. Sweatshop implies a place where workers are paid very little money to do a dangerous or hard job. Many labor laws make this kind of setup inefficient for the employer. Investing in one’s employees and their safety is more efficient and avoids costly injuries.  

Minimum 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 to social inequality.

Many sectors of society would be affected by changes in this policy. Minimum wage relies on the resources of a certain location. Those viewing this issue from a more technical point of view argue that raising the minimum wage could produce unemployment. However, those who actually experience hardships of working at this level think.
The technical view of the minimum wage, a kind of “economic textbook” or the “neoclassical school” points to the notion that “the costs to society of artificially raising wages are greater than the benefits”. It is important to view this policy a more realistic view of society, since the empirical perspective of the minimum wage is based on the “assumption of perfectly competitive markets in which market clearing wages are achieved, and the demand for labor is exactly equal to the supply”. Taking all possible aspects into account and, in a way to maximizes the gains rather than the losses, would be key to maintaining this policy. The idea of minimum wage came up as a response to the oppressive nature of some employers as they dealt with their workers. The government implements the minimum wage policy to force the employers increase the amount that workers earn especially during inflation. In a situation where a company can make enormous profit while the workers keep earning an unnecessary pay, it becomes a social vice. This is because increased profit by the company destroys the purchasing power of the consumers as more money flows in the economy. People who earn less will continue to suffer.