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Essay Available:
Pages:
3 pages/≈825 words
Sources:
1 Source
Level:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
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Topic:

Impacts Minimum Wage on Employment. Business & Marketing Essay (Essay Sample)

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Impacts Minimum Wage on Employment
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Institution/ Affiliation
Impacts of increased minimum wages
The idea of having a mandatory minimum wage is an essential element in protecting the low and unskilled workers from discrimination as well as improving employee’s standards of living. A minimum wage is the lowest compensation an establishment is obliged to pay workers for tasks performed during a given period, which cannot be amended through cooperative bargaining or individual contracts (Bartels, 2016). Controversial debates have heated up among politicians and economists on whether an increase in the minimum wage is worthwhile. Commonly, these debates are focused not only on the merits and demerits of increasing the minimum wage but also on the possible alternatives to address the underlying challenges. While the politicians believe that raising the minimum wage will lead to adverse consequences to the economy and again to the working class, the economist argues that this will have insignificant effects. The impacts of increasing the earnings have greater impressions not only to the individual’s but also to the economy at large, (Flinn, 2010)

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