David Metcalf has concluded that the implementation of the minimum wage appears to have had no negative impact upon Employment. Critically examine the possible explanations for this outcome. The minimum wage was implemented and became law on the 1st April 1999 this helped prevent unfair low pay and “levelled the playing field” (http://www.businesslink.gov.uk/bdotg/action/layer?topicId=1074402393) for employers as companies could compete on quality of goods rather than setting a reduced price based
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Security system and the Minimum wage in eradicating poverty in Hong Kong. Introduction Poverty has been a hot issue in Hong Kong for several years. Several policies developed form the Social Security system have been adopted by the government for soothing this problem‚ such as the CSSA scheme and the MPF fund. Nevertheless‚ it seems that the poverty problem is getting worse. Voices of demanding the government to help the poor have become fiercer. Recently‚ the minimum wage is also called for guaranteeing
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Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania: Reply By DAVID CARD AND ALAN B. KRUEGER* Replication and reanalysis are important endeavors in economics‚ especially when new findings run counter to conventional wisdom. In their Comment on our 1994 American Economic Review article‚ David Neumark and William Wascher (2000) challenge our conclusion that the April 1992 increase in the New Jersey minimum wage led to no loss of employment
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In general‚ any law that only applies to a segment of a population is inherently a bad law. Minimum wage laws fall into this category because it only effects a segment in the socio-economic structure. Additionally it creates an artificial standard similar to trade tariffs. Economically this does little but creates economic waste. Raising a minimum wage will effectively increase cost for that socio-economic level. Some ways we see it happening here in this article is that while these people are making
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of its successes‚ the company has been dogged for more than a decade by repeated and persistent accusations that its products are made in sweatshops where workers‚ many of them children‚ slave away in hazardous conditions for less than subsistence wages. Nike’s wealth‚ its detractors claim‚ has been built upon the backs of the world’s poor. To many‚ Nike has become a symbol of the evils of globalization—a rich Western corporation exploiting the world’s poor to provide expensive shoes and apparel to
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Minimum wage law has a negative effect on the economy For years‚ people have constantly relied on government to defend social justice by interfering in the economy. However‚ these policies can have unintended opposing aftermath. One example of a very popular yet improper regulation is the minimum wage law. Minimum wages have a negative effect on the economy‚ because the increase of minimum wage results in a repeating scenario of the need to increase the minimum wage. Higher minimum wages lead to
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is spending half or more of their life on having their work and the wages are the factor that can ensure their quality of life. As the consumption level in Hong Kong is increasing year by year‚ employees’ wages started not affordable to their life and the poverty problem comes more serious. By then‚ in year 2010‚ Hong Kong government carried out the minimum wage policy and set the price at $28 per hour. The carry out of minimum wage policy apparently can ease the poverty problem in Hong Kong‚ in fact
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Throughout the years‚ minimum wage has become an issue that has been viewed in a more negative way. There are many positive effects‚ but positives are being outweighed by the negatives‚ with the many important effects of the positives being overlooked. The economy‚ along with individuals‚ have benefitted in more ways than one. Minimum wage opens up the opportunities of jobs being offered to those who would not otherwise qualify for the higher paying jobs‚ which require college degrees (Characteristics
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In the United States‚ every state has their own laws and the minimum driving age for driving‚ but in most of states‚ the legal driving age is sixteen years. However‚ it is dangerous to drive a motor vehicle alone for a sixteen years old driver. Some people believe that older teenagers can make a responsible decision while driving. On the other hand‚ some people believe that younger teenagers can do jobs because they can drive themselves. Statistics show that young drivers – sixteen to seventeen years
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the majority of Americans. Many Americans who have worked on minimum wages are struggling to live on a salary that is below the poverty threshold. In 2012‚ the U.S census posted that in a family of three; their income is 18‚552‚ (U.S Census). In most case‚ one member of the family is working on a minimum wage salary which is below 18‚552‚ (U.S. Dept. of Labor). It has been almost a five years since congress has raised the minimum wage (Huff Post). Throughout my argument‚ I will share my thoughts
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