Businesses often pay individuals a wage based on current market standards. Free-market economies usually dictate specific wages for various jobs. Governments attempting to subvert market prices can reduce the demand for new workers due to a high minimum wage. Individuals can face a few negative effects from minimum wage laws. Minimum wage increases an individual annual salary, bumping the employee into a higher marginal tax bracket.
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General Motor's decision to close 11 factories allowed the corporation to gain more money but put thousands out of work, devastating the workers and the towns they lived in. The corporations should think of how their decisions affect people. Although this move may provide Americans with cheaper jobs, it has added thousands more to the already high unemployment. After watching the movie "Roger and Me," directed by Michael More, one would notice the changes in the town of Flint after the closing of the factory. While senior management is getting raises and expanding their corporation, people are living in misery because of the lay-offs; this could change if the corporations gave those unemployed some compensation.
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This is because of the illegal immigrants that will quickly fill any openings and work for lower wages. Those who are working and making what the normal wage would be are being pushed out by under bidders. The debate on whether the immigrants help or hurt the economy is still at large. If we keep the immigrants here more Americans are left unemployed, but the cost of housing would decrease. On the other hand if the government tries to deport these illegal immigrants and succeeds the housing costs will once again go up, but it gives American citizens
Everyday more Americans are loosing their jobs due to outsourcing. I am not just speaking of blue-collar Americans who work hard with their hands, but I am referring as well to our technical support and our white-collar engineers and software designers. Furthermore, the majority of workers who have lost their jobs due to outsourcing to foreign countries have had to accept pay cuts therefore America’s economy will go downward. “Outsourcing is hitting skilled jobs that were once thought “safe” across a far wider swath of white-collar America” (Kathleen Madigan & Michael Mandel, 2003, para. 2).
For the most part, the hurricane resulted in mass displacement of people, thus breaking apart communities. Estimates as to the number of people displaced range from 600,000 people to 1.2 million people. (Gabe, Falk, McCarty, and Mason 2005). While many families have eventually returned home, still others are living in trailers, apartments and interim housing provided by FEMA. According to FEMA reports, in September 26, 2005, they have already approved 265,000 applications for temporary housing payments.
This adjustment makes a shoplifter's job that much easier. However, shoplifters should also know that they continue to hurt the economy every time they leave a store with merchandise that does not belong to them. Retailers are fighting back Higher prices hurt the economy. However, retailers are forced to raise the cost of merchandise to recover some of the profits they lose to shoplifting. When retail theft escalates, the cost of doing business will also increase, and this leaves the paying customers to pick up the multi-billion-dollar annual tab left by
People claim the purpose of a corporation is to better the economy,but thats not true. If there come a time when companies need to cut back, they would start from the bottom(workers) to the top. Corporation follow a Utilitarianistic view. Which is the right thing to do even if its done from a bad motive.In the notion of consequences the Utilitarian includes all of the good and bad produced by the act, whether arising after the act has been performed or during its performance. Hormel build a factory in a town where most of the people depend on them to survive economically.
In terms of the domestic job market, Negy (2012) asserts that in general, every job opportunity captured by an immigrant could potentially held by a lawful American (138-143). As a matter of fact, the undocumented labors have a strong willingness to obtain a job with a below-average wage which drives some of the American labors out of the job market. And from employers’ point of view, especially in catering industry and labor intensive industries, employers are more likely to hire employees at a possible lower price. As a result Americans are paying a higher price for the unrestricted flow of undocumented immigrants entering into the United States each year. In terms of public welfare like the public health care, Kullgren (2003) states that federal government restrict the illegal immigrants’ access to publicly financed health services could be a heavy load to health care providers and do harm to public's health(1630-1633).