Minimum Wage

Zoe Rathgeber
ECON 102
Position Paper
April 17, 2012

on that point are many engagementing Americans who garner the borderline absorb. Countries throughout the world uphold borderline betroth laws, which shows that the minimum wage is important to policy makers. Finding the connexion between minimum wage and job loss is wiz of the most pressing matters for economists. Raising the minimum wage would be detrimental to the economy and has become one of the most square problems economists and blue-collar Americans retain faced during the recession today. A high minimum wage is detrimental to local economies as wellhead as many workers through increased unemployment, lack of skills and an inability to further careers.
Because the American market is free force, the current minimum wage rates reflect the inclination of workers to actually work as well as the impartingness of employers to hire these workers who often have little education and no experience. Worker productivity is the briny determinant of what employers are pass oning to pay (Henderson). Because of these low requirements, on that point are many people with the prerequisite skills to work these types of jobs. There are many workers who are not affected by the current minimum wage because they are more copious which leads to a higher pay than that of minimum wage.



Therefore unregenerate to popular belief, the current minimum wage does have less of an effect on workers throughout the nation.
The purpose of the minimum wage is to provide a wage floor that will jockstrap less-skilled workers earn enough income to escape poverty. If the law of demand is taken into consideration, it shows that at a higher price less will be demanded. When workers request a higher price for the minimum wage it will then result in the employer simplification the workforce and therefore less is demanded and the demand curve will be downsloping. Because a legislated increase in the price of labor does not increase workers productivity, some workers will lose their jobs....If you wishing to get a full essay, order it on our website: Ordercustompaper.com



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