Scott Wollas Would Increasing the Minimum Wage Reduce Poverty (Article Critique Sample)
Unit VII Article Review
Please see the articles from the link above, and select a monthly newsletter to review. Please click on PDF of Classroom Edition. Please Note: Prior to the February 2012 issue, the newsletter was published under the title Liber8 Economic Information Newsletter.
After writing your Article Review, combine your review with the ideas/concepts presented from the textbook. Make sure to provide at least 3 pages (750 to 1,000 words) using APA style. You must also include a reference page at the end of your summary. You have seven weeks to complete this assignment, with a due date at the end of Week Seven. No late papers will be graded. Therefore, make sure to submit before Midnight, Tuesday- Week Seven. Any paper submitted after that time will be awarded a zero score, regardless of reason.
1. Do not limit yourself only to the material from the textbook. You may want to include references from the Internet, or additional library research, etc. However, you must (at least) include detail from our textbook.
2. Proofread your work. A spelling and grammar check does not always find improper word usage. For example; to, too, and two would all be okay—but they have different meanings. Also, don’t forget to check spelling and grammar…! PS - If possible, please check the document until it removes all red, green, or blue underline squiggles. Those highlights make it difficult during the grading process.
3. Apply real-world content to your review. You may want to highlight current events, etc., to show the relevance in today’s economic environment.source..
Scott Wolla's â€œWould Increasing the Minimum Wage Reduce Povertyâ€
The article seeks to create an understanding in regards to the relationship between minimum wage and poverty. The minimum wage has actually been implemented in most cases whereby poverty needs to be alleviated or controlled. The minimum wage idea has been applied in major sectors of the economy even though a large segment of the labor force has been left out of the statistics. Many people, according to this newsletter, always thrive to raise fair amount of earnings that can help sustain their lifestyles as well as their households. The labor markets just like any other market often have both the demand side as well as the supply side. The interaction between these two sides often ends up creating an equilibrium wage (Card, 1994). On the same instance, the minimum wage actually acts as the price floor necessary for labor that is considered low skilled. High wages would decrease the number of workers that a company is wishing to hire. This is because the employees would end up coming to work with high expectations that the company may fail to live up to due to low income seen in the general structure of financial strength. What results from this is a surplus seen in the employees because more workers would be seeking the jobs in a very narrow job market. The individuals who fail to get employment during such times end up unemployed and the joblessness cycle continues (Grossman, 1978).
According to economists, it is seen that wage is an outcome of the labor market. It is through this idea the major economists have always avoided making great value judgments that regard the fairness of wages. On the other hand these economists prefer assessing the policy of minimum wage. They do this because they have to measure the benefits and the economic costs of the policy as well as how effectively this helps one achieve their ...
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