This makes me wonder, is the minimum wage really high enough? Even though everyone would want to say no to this question I am going to have to say its fine where it’s at right now. People don’t normally look at the big picture of something they think is so simple. Most of us would just say raise it a little so that low income americans won’t have to struggle so much. It may not surprise people but, it’s not only teenagers that work at these minimum wage paying jobs, there are also many adults that are trying to make a living and are forced to work minimum wage jobs.
The Unforeseen Effect of Minimum Wage On the surface, minimum wage seems like a good thing. The thinking that more money in an employee's pocket is a good thing is a no-brainer right? I'd argue no. There are different angles to look at, and even more inadvertent effects that have been realized. I'd like to steal a few minutes of your time to show you the unintended and unforeseen effects of this government interference in the private economy.
• Introduction: Good intention may have both consequences depending on how it guided whether by error or correct decision. The best example is the minimum wage regulation which means to raise the wages to improve living conditions but actually influence many to economy. Minimum wage is the lowest hourly, daily wage of an employee. Many economists have different ideas of an in crease in minimum wage, the matter in the views on disadvantages and advantages being disputed by many advocates. The advantages from higher minimum wage can have a positive effect on the whole economy flows, while the disadvantages have some negative effects on employment rates.
If not, the individual worker will expect continued monetary increases for the same level or amount of work produced. By tying in labor, skill, and education increases with financial increases, workers would be more driven to progress in their preferred field. Therefore, when making attempts to increase an even higher minimum wage, we need to stop and realize wages should be based on an individual’s knowledge and skill level and not focus on the general American public’s natural empathy. If you worked to get where you’re at, shouldn’t everyone else? Minimum wage increase supporters believe that a low-income individual should be able to purchase the products in which they help to produce or services they help to provide.
Many times we often find ourselves at a job that we don’t like simply because that is what pays the bills. Extrinsic factors are important to consider when looking for a career. Now days everyone seems to be over worked and under paid. If the pay compensation was a rate higher then everyone wouldn’t mind the chaos. I believe money can’t buy you happiness, so if you are at a job were you are not happy eventually it will start to affect your work ethics.
This puts employers in the position that if one student cannot work unpaid, there are many candidates who can. This is where market failure comes in. Internships are regarded as “merit goods”, which generally benefit society as whole but if the market is left on its own, they tend to be under consumed. Besides, the market failure in providing paying internships inhibits generation of young people from moving up the social ladder. To solve this market failure, government intervention seems to be the only feasible solution so far.
The public votes but if they are not made aware of the problem, and then there will be no such changes. Such changes are not what CEO’s or the one percenters want to come to pass, for the rich want the poor to remain poor. Revolutions start by those oppressed. In conclusion, there will be the poor as there will be the rich, but as the face of the U.S. changes (tans), so will the money power
It allows individuals to earn money based on the importance of their role in society. If doctors didn't earn more than carpenters, no one would become a doctor and we'd have a shortage. There would no incentives to work harder because you could do an easy job and get paid the same amount for doing something that involves a lot of work. They are also exposed to competition and have to face different challenges and find solutions to them to stay in competition. It is in a capitalist economy that hard work is rewarded and pays off.
Their union deplores industrial action by the profession, but nevertheless it has meant strikes in the UK to force a reluctant government into financing better incomes in the National Health Service, and in the view of many these incomes remain inadequate. The reason is that in a capitalist society incomes depend on the market economy i.e. supply and demand. If you supply a need and are in a minority you can command a high income. In a socialist state, the government evaluates the contributions of all workers and fixes wages accordingly.
Motivation in the Workplace Motivation is the reason or reasons one has for acting or behaving in a particular way. Motivation is also the key to having a successful workplace. Many think that employee motivation only comes from money when this is in fact not the case. Many things can help motivate people so that they can become the best employees possible and also so that they can enjoy their job and do the best they can at it. The reason that motivation is needed according to an author at Westminster University is because unmotivated employees are likely to spend little or no effort in their jobs, avoid the workplace as much as possible, exit the organization if given the opportunity, and produce low quality work (Valencia).