Sign In
Not register? Register Now!
Essay Available:
Pages:
4 pages/≈1100 words
Sources:
3 Sources
Level:
MLA
Subject:
Social Sciences
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 17.28
Topic:

Positive Effects, What Is The Minimum Wage? (Essay Sample)

Instructions:

Essay is expected to be 4-5 pages double spaced with proper use of MLA in-text citations. A 'Works Cited' page with citations of articles must be given at the end of your essay as well.
Read the 3 attached articles and use them in your exam. Your essay topic question is:
Will raising the minimum wage have a more positive or negative effect on society?

source..
Content:

Student Name
Institution
Date
Minimum Wage
INTRODUCTION
This is an argumentative essay which will talk about the minimum wage in society and its effects. It will start by introducing what the minimum wage is, it will then discuss the positive effects and negative effects of raising minimum wage, then conclude with my stand on the topic of discussion.
So, what is The Minimum Wage?
Minimum wage is the lowest remuneration that employers can legally pay their workers. This is a policy that aims at protecting workers from exploitation by their employers. Even though minimum wage laws are in use in many authorities, different judgments exist about the disadvantages and advantages of a minimum wage (Meer, 500). In this paper, I will start with the positive effects of a raising minimum wage in society.
Positive Effects
Increase in the minimum wage will see growth in the economy. This is achieved through a rise in the spending habits of the people. Individuals with low income will not have an elevated marginal readiness to consume. The effect of this is that it will boost the economic growth in such a way that, the higher the spending will cause a ripple effect on economy elsewhere. Needless to say, the more the workers are paid the more the money they spend on product and services.
With the rise in the minimum wage on regular basis, people will be able to be at the same pace with changes in inflation. By so doing, people purchasing power will not reduce. Poverty levels will reduce due to an increase in the minimum wage since the lower paid people will have more to spend hence reducing their poverty levels. If the country is using a progressive tax system, the higher the pay to the workers will see increase in the tax revenues. An increase in tax revenues will cause the country to be more stable financially hence better services to its citizens.
Higher wages and spending caused by increase in minimum wage, will raise demand for products and services hence create more jobs. For example, an increase in demand for a particular product will necessitate increase in production of that product. The effect of demand of the product will lead to an increase of workers to produce more products. New companies may arise as they are trying to meet consumers needs creating jobs for people.
Businesses will gain more income with the an increase in the minimum wage. Costs for hiring and training new employees will reduce, as the employees will stay for a longer time with the employers. Better paid workers have no reason for moving from one employer to the other seeking for better pay. The government will also save more revenues to develop other sectors of the economy. Highly paid workers will rely less on governmental “safety net” programs which will enable the government to channel the money to other sectors of the economy.
The productivity of the firms will be

...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

You Might Also Like Other Topics Related to minimum wage:

  • How To Improve The Treatment Of American Workers
    Description: America could change course by implementing better policies that would put it on the path towards a high-wage economy like the early times. This essay focuses on the reasons why workers are paid this low and ways to improve their treatment....
    4 pages/≈1100 words | 6 Sources | APA | Business & Marketing | Essay |
  • The Line between USMCA and NAFTA: A Tier 2 Companies’ Perspective
    Description: USMCA bears considerable similarities with while still differing markedly from its predecessor – NAFTA. The first difference regards car manufacturing. Under USMCA, North America will be required to produce 75% of all automobiles for the same market as the condition for avoiding tariffs;40 percent of chunk...
    2 pages/≈550 words | No Sources | APA | Business & Marketing | Essay |
  • What Is The Effect Of Outsourcing On The Canadian Economy?
    Description: This essay is the culmination of all you have learned in the course and should be written in an argumentative form. This is the form you will primarily use in the majority of your essays at the university....
    4 pages/≈1100 words | No Sources | APA | Social Sciences | Essay |
Need a Plagiarism Free Essay?
Submit your instructions!