Minimum Wage Legislation Assignment

For this assignment I chose Economics as the field that I wanted to learn about because it has a great impact on my life. It also is something that I want to learn more about. The article that I read is called: The economics of minimum wage legislation. I really enjoyed this article because it talked about how we are always looking at what we should do to help the job market and the suppliers as well. This article talks about two things that can happen when there is a minimum wage that is enforced. The first is that there are people that work in a job that may be under qualified and if the employer is forced to pay him above what he is worth then he would lose his job. The other outcome is that if the minimum wage is razed then the employee
would feel the need to get better at his or her job so that they would keep the position that they hold.

There are lots of people that think if we could raze minimum wage life would be so much batter but in reality the employer will do whatever saves him money so if it is cheaper to fire some people because they are not producing what they are being payed then he will. There is a fine line that we have to walk when it comes to minimum wage and we need to look at things from both sides not just from what we want to get payed but also from what we are worth to the company.