Minimum Wage The Exploitation Of Workers - 1538 Words

Minimum 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 ‘sweatshops,’ subsequently being introduced in the United Kingdom and the United States in the early twentieth century (Wascher, p.561). By common definition, there are two possible ways of minimum wage setting. Firstly, statuary minimum wage is set by the government, gaining†¦show more content†¦The market clearing condition, given homogeneous labour, observes (Ls) Labour supply intersects (Ld) Labour demanded for the market determined equilibrium. In competitive markets this allows (N) number of employees to be hired by firms at the real wage of Wce/P. However, as minimum wage is a form of wage rigidity, the real wage allocated to workers is W/P. The nature of this real wage is above the market clearing condition and therefore (N) the number of employees hired by firms is less under this wage rigidity. Leaving Ucl, the surplus of unemployed workers. Minimum wage legislation allows government to set a sensible legal minimum compensation for the work done by employees that firms must pay as employers. Meaning high wages for workers with low marginal productivities and equilibrium wages. In the fast food indus try, â€Å"Comparisons of grouped and individual state data confirm that the rise in the minimum wage raised average teenage wages, where â€Å"there is no evidence that the rise in the minimum wage significantly lowered teenage employment rates. (Card, p.36) Demonstrating appropriateness of increased minimum wage, as young workers often receiving minimum wage as part of their job training and apprenticeships. In itself, minimum wage is highly debated. On the one hand, minimum wage is argued to be beneficial for the labour market as well as the economy as a whole. TheirShow MoreRelatedIs the Job in Fast-Food Restaurant Exploitative?1480 Words   |  6 Pagesimplementation of minimum wage when illustrating your argument. Introduction Exploitation is a term to describe person that are being mistreated. Karl Marx used it to explain the relationship between the capitalists and workers. It is claim that the value of a product is depended by how much labor has paid on it such as time, energy or ideas. Therefore the price of a product minus the cost and energy to produce a product or other sufficient usages should be equal to what a worker can earn. HoweverRead MoreMarxs Views and Exploitation686 Words   |  3 PagesMarx and Exploitation In Marxs view the capitalist society is comprised of two distinct classes, the bourgeoisie (owners of production) and the proletariat ( labor) (Wolff). The focus of the bourgeoisie (owners) is to produce products (commodities) at a product with profit being the amount of money being made on a commodity after deducting all input expenses (including labor expenses) (Wolff). This net amount or profit is referred to as surplus value by Marx (Wolff). The goal of the bourgeoisieRead MoreEssay about Cheap Labor1025 Words   |  5 Pagesbehavior of foreign and National Corporation who practices it. For example, a developing third world country like India today is suffering from exploitation on workers. They have moved from hand on works to machineries, which require more specialized worker. This is becoming a problem because for instance, in farming, we no longer need total hand on works of the workers. Most of the labor in replaced by machineries. It sure is more efficient but it is displ acing people from the jobs. This can be said thatRead MoreExploitation or opportunity1293 Words   |  6 Pagesï » ¿Article #1 Do you think that the low-wage factories of the multi-national corporations, located in countries such as China, Bangladesh or Mexico, represent exploitation or opportunity? Every exploitative relationship begins with an initial inequality that makes the taking advantage possible. In exploitative relationship the rich get richer and the poor fall further behind. - Robert Mayer Exploitation, in this case economic exploitation, can be defined as using somebody s labor, but in returnRead MoreWalmart Is Not An Advocate Of Customer And Employee Success833 Words   |  4 Pagesthe week off, but they did not cover her hospital bills. I am not a frequent shopper at Walmart because of their unfair labor practices. Exploitation of workers, low wages and health care are the main reasons why Walmart is not an advocate of customer and employee success. Walmart exploits those who are essentially powerless to defend themselves. This exploitation is due to the business model that started when its founding father, Sam Walton, opened his first stores. He exploited the pools of surplusRead MoreFair Labor Standards Act of 1938 and Fair Wages for Disability Employees1004 Words   |  5 Pages1938, companies that use sheltered workshops to train workers with disabilities, such as Goodwill Industries, can legally pay their employees just pennies an hour. The section of the Fair Labor Standards Act that legalizes this behavior needs to be repealed in order to ensure fair pay and treatment of every employee in today’s workforce. To begin, I will explain the use of sheltered workshops and the timed tests used to determine subminimum wages for employees with disabilities. I will then go onRead MoreWhy The Government Should Raise The Minimum Wage1699 Words   |  7 Pagesraise the minimum wage has been challenged for many years and i t is crucial to deliberate the ethical facets of such a conundrum. Research and economic texts have reported over many years that it is perhaps very difficult to The belief that a company should hire and compensate people situated on their worth is not only good for business, but also for the employee, since being able to freely trade value for value is in the best interest of an employee. In an economy where minimum wage is not enforcedRead MoreThe Pros And Cons Of Raising The Minimum Wage993 Words   |  4 PagesAmerica, the decision to raise the minimum wage continues to be controversial, especially in the political realm. The political parties still move to block the opposing party from successfully implanting their ideals, causing either nothing to be accomplished or the situation to worsen. Research shows that raising the minimum wage a reasonable amount would lessen the gap between the rich and the poor, continue to fulfill its original purpose of protecting workers and keeping the economy in a healthyRead MoreMinimum Wage Does Not Impact The Poverty Rate600 Words   |  3 PagesMinimum Wage Does Not Impact The Poverty Rate The Working Poor Gain Little Other than Protection In the 1930’s, during his second term as president, Franklin Roosevelt fought for and constructed many versions of legislation to end the exploitation of women and children. Finally on October 24, 1938 the Fair Labor Standards Act became effective. The Act limited the hired workers to be no less than sixteen, the work week to no more than forty hours and the minimum wage to be twenty-five cents anRead MoreMinimum Wage Of The United States Of America And Australia1031 Words   |  5 Pagestheir economy, there has also been significant differences in the wages set to employees in different countries. The lowest wages set by the law that are fixed to a particular amount which is also defined to be the price floor below which workers shall not sell their labor, has its own effects. The minimum wage law came into force as a matter of social justice amongst the low-wage workers, also to reduce exploitation and see that workers can afford the standard basic living expenses and nec essities,