Against Living Wage
Essay: Assess the case for and against the setting and enforcement of a living wage in the United Kingdom?
In this economics essay I am going to analyse and discuss the impact of enforcing a living wage in the UK. “A living wage is a wage that is high enough to maintain a decent standard of living”. The enforcement of a living wage is very important and also a very controversial issue. This is an important issue because a living wage is needed so people can maintain a decent standard of living. This issue is also controversial because unlike the minimum wage which is set by the law, a living wage isn’t. Therefore the controversy is over whether a living wage should be enforced by employers when there is already a minimum wage.
Firstly, …show more content…
However, this would also depend on the type of market structure which the trade union is involved in and also the degree of government legislation affecting trade union power. As shown by a study by the Greater London authority, the figures show significant reasons why a living wage should be implemented. In reality as a living wage is an optional thing for employers to give to its workers it is not going to be implemented by majority of the firms in the UK. For this reason I personally feel the UK should scrap the minimum wage and pass a law which states that all firms have to pay their workers a living wage in order for social justice and fairness to be achieved. Finally, as explained in my essay above, a living wage would help stimulate growth and provide an overall positive effect on our economy.
Referencing
Alison Doyle, Living wage definition, Minimum wage definition, Electronic source available from: http://jobsearch.about.com/od/salaryinformatio1/g/living-wage.htm
Unison fact sheet: the living wage, electronic source available from: http://www.unison.org.uk/file/Living%20Wage%20Factsheet%202012.pdf
Minimum wage figures from: http://www.lowpay.gov.uk/
Sloman K, Hinde D, Garratt D, (2010) Economics for business 5th edition, Prentice Hall, pg 375
Diagrams from: Grant S, Bamford C, Walton S, (2008) OCR Economics A2, Heinemann, pgs 81, 82
Bibliography
Sloman K, Hinde D, Garratt D, (2010) Economics for business 5th edition
Grant S, Bamford C, Walton S, (2008) OCR Economics A2,
In this economics essay I am going to analyse and discuss the impact of enforcing a living wage in the UK. “A living wage is a wage that is high enough to maintain a decent standard of living”. The enforcement of a living wage is very important and also a very controversial issue. This is an important issue because a living wage is needed so people can maintain a decent standard of living. This issue is also controversial because unlike the minimum wage which is set by the law, a living wage isn’t. Therefore the controversy is over whether a living wage should be enforced by employers when there is already a minimum wage.
Firstly, …show more content…
However, this would also depend on the type of market structure which the trade union is involved in and also the degree of government legislation affecting trade union power. As shown by a study by the Greater London authority, the figures show significant reasons why a living wage should be implemented. In reality as a living wage is an optional thing for employers to give to its workers it is not going to be implemented by majority of the firms in the UK. For this reason I personally feel the UK should scrap the minimum wage and pass a law which states that all firms have to pay their workers a living wage in order for social justice and fairness to be achieved. Finally, as explained in my essay above, a living wage would help stimulate growth and provide an overall positive effect on our economy.
Referencing
Alison Doyle, Living wage definition, Minimum wage definition, Electronic source available from: http://jobsearch.about.com/od/salaryinformatio1/g/living-wage.htm
Unison fact sheet: the living wage, electronic source available from: http://www.unison.org.uk/file/Living%20Wage%20Factsheet%202012.pdf
Minimum wage figures from: http://www.lowpay.gov.uk/
Sloman K, Hinde D, Garratt D, (2010) Economics for business 5th edition, Prentice Hall, pg 375
Diagrams from: Grant S, Bamford C, Walton S, (2008) OCR Economics A2, Heinemann, pgs 81, 82
Bibliography
Sloman K, Hinde D, Garratt D, (2010) Economics for business 5th edition
Grant S, Bamford C, Walton S, (2008) OCR Economics A2,