top-rated free essay

Minimum Wage

By kylewiberg Jan 12, 2011 423 Words
There are differences in opinion about the benefits and drawbacks of having a minimum wage. Supporters of the law say that it increases the standard of living of workers and reduces poverty. Others say that if it is high enough to be effective, it increases unemployment, mostly among workers with very low productivity due to inexperience. Since the law was established it has had only a positive impact on our economy. Minimum wage protects employees from being taken advantage of, encourages employees to work harder and it decreases the cost of government welfare programs. Since this law was established during the great depression it has created a positive impact on the workforce. The minimum wage protects workers from inadequate pay. If there wasn’t a limit to how little a business can pay an employee, the business could take advantage of their workers and not pay them fairly. With this law in effect the employer can’t pay their workers any less than the minimum. Before we had the minimum business owners could choose how much they wanted to pay their workers even if it meant they were ripping them off. Having a minimum wage can also encourage employees to work harder at their jobs. Employees will be motivated to work harder so they can get that extra raise. If employees don’t have the feeling they have an opportunity to make more money or get a promotion, their work ethic probably won’t be as strong. As employers pay more to their workers, they also will demand more return for paying them a higher wage. Some can argue and say that having a higher minimum wage will discourage further education, but it think most people will still want to make more money than the minimum. The minimum wage not only benefits workers and employers but the government as well. More jobs mean a stronger economy. If more people are working the less the government has to pay to welfare programs. If people are making enough money even if they are working at a lower-end job, they will depend less on the government for help. Less spending on welfare programs would give the government money for more important things. In conclusion the benefits of the minimum wage laws outweigh the drawbacks and flaws. Not only has it improved our standards of living but our economy as well. Our economy depends on the work ethic of our people and I think the minimum wage law provides a positive impact on the workforce.

Cite This Document

Related Documents

  • Against Raising Minimum Wage Essay

    ...Against Raising Minimum Wage People everywhere are voicing out that we need to increase minimum wage, again. They say that an increase will have a minor impact on jobs but there are no facts to back them up. The impact of raising minimum wage has been studied since the beginning, and has been concluded that raising minimum wage hurts the poor, ...

    Read More
  • Poverty, Social Security & Minimum Wage

    ...Critically examine the trend and size of poverty in Hong Kong society. Please assess the effectiveness of the present Social Security system and the Minimum wage in eradicating poverty in Hong Kong. Introduction Poverty has been a hot issue in Hong Kong for several years. Several policies developed form the Social Security system have been a...

    Read More
  • Real-wage Unemployment

    ...past four weeks. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. Types of Unemployment: * Classical Unemployment Classical or real-wage unemployment occurs when real wages for a job a...

    Read More
  • Minimum Wage

    ...Minimum Wage In the United States Minimum Wage is approaching record lows. Even with recent increases inflation is one of the main reasons that workers are being paid less for labor than they were back in the Seventies. There are about 3 million workers in the United States that worked full time year round last year and still fell below th...

    Read More
  • Controversy On Minimum Wage

    ...Brown 10/13/2013 Controversy on Minimum Wage A minimum wage is an hourly wage rate that is set by law. The minimum wage was introduced during Roosevelt’s presidency in 1938. This was the time of The Great Depression where unemployment was at 19%. Today it is around 9%. As early as 2010 the minimum wage in the United States was $7.25 per hour....

    Read More
  • Minimum Wage in Ontario

    ...“Increasing the minimum wage is a bad move economically, philosophically and politically.” This quote by Marc Freedman, a distinguished author and CEO of Encore Careers, perfectly exemplifies my view on minimum wage. As a minimum wage earner, I would enjoy and entertain the idea of a few extra dollars in my pocket that comes with a minimum...

    Read More
  • Minimum Wage

    ...Union address, President Obama aggressively addressed the age-old debate of raising the minimum wage. The President has urged legislators to raise the federal minimum wage to $10.10 per hour to fight the ongoing battle of class inequality. Subsequently, Massachusetts legislators proposed a bill that would incrementally raise the state minimum ...

    Read More
  • Gender Wage Gap: Economic Effects

    ...Gender Wage Gap: Economic Effects Erin Fisher-Leser Western Governors University Gender Wage Gap: Economic Effects Admittedly, the government is struggling to meet the needs of many Americans. Housing, medical assistance and nourishment, are among the highest sources of economic strain for most people. Be...

    Read More

Discover the Best Free Essays on StudyMode

Conquer writer's block once and for all.

High Quality Essays

Our library contains thousands of carefully selected free research papers and essays.

Popular Topics

No matter the topic you're researching, chances are we have it covered.