Evaluating Minimum Wage Laws

Evaluating Minimum Wage Laws PDF

Author: André Müller

Publisher: GRIN Verlag

Published: 2020-08-11

Total Pages: 32

ISBN-13: 3346222772

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Seminar paper from the year 2020 in the subject Business economics - Economic Policy, grade: 1,7, SRH - Mobile University, language: English, abstract: The present paper aims at evaluating minimum wage laws. In order to reflect the topic, two countries – Germany and the United Kingdom –, which have already introduced minimum wages, are chosen as examples. Furthermore, the paper examines minimum wages from the perspective of two different economic theories on government intervention by introducing the neoclassical and the Keynesian approach. It investigates the observed actual impact and effectiveness of minimum wage legislation against the presented market theories as well as against the objectives and expectations raised by the legislation. Finally, the student paper gives a recommendation whether the introduction of minimum wages is actually worthwhile or not. The paper starts with a definition of the problem and introduces objectives as well as current relevance of the topic. Subsequently, the theoretical background is reflected. This includes the definition of the term minimum wage as well as presenting the neoclassical and the Keynesian economic theory. Chapter two finally ends with a short summary. Afterwards, the paper continues with Chapter three, which describes the minimum wage concepts of Germany and the United Kingdom. Therefore, the implementation track records explain the history, structure and the scope of the different minimum wage concepts. The critical discussion in chapter four finally evaluates the observed actual impact and effectiveness of minimum wages against the economic theories. Furthermore, it reflects the expectations and objectives which are raised by the government. The paper concludes with a summary and an outlook.

What Does the Minimum Wage Do?

What Does the Minimum Wage Do? PDF

Author: Dale Belman

Publisher: W.E. Upjohn Institute

Published: 2014-07-07

Total Pages: 489

ISBN-13: 0880994568

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Belman and Wolfson perform a meta-analysis on scores of published studies on the effects of the minimum wage to determine its impacts on employment, wages, poverty, and more.

Critical Perspectives on the Minimum Wage

Critical Perspectives on the Minimum Wage PDF

Author: Anne C. Cunningham

Publisher: Enslow Publishing, LLC

Published: 2016-07-15

Total Pages: 178

ISBN-13: 076607675X

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Perspectives on minimum wage have changed significantly over the past twenty years, as seen in the increased momentum of movements around the country to increase workers' salaries. Critics of an increased minimum wage argue that it will lead to mass lay-offs and increased unemployment. Proponents argue the opposite, that it will jump start our economy. In this book, economists, the media, the courts, and even ordinary people will weigh in on this contentious issue, allowing students to evaluate the minimum wage from all sides.

A Measure of Fairness

A Measure of Fairness PDF

Author: Robert Pollin

Publisher: Cornell University Press

Published: 2018-07-05

Total Pages: 310

ISBN-13: 1501729527

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In early 2007, there were approximately 140 living wage ordinances in place throughout the United States. Communities around the country frequently debate new proposals of this sort. Additionally, as a result of ballot initiatives, twenty-nine states and the District of Columbia, representing nearly 70 percent of the total U.S. population, maintain minimum wage standards above those set by the federal minimum wage.In A Measure of Fairness, Robert Pollin, Mark Brenner, Jeannette Wicks-Lim, and Stephanie Luce assess how well living wage and minimum wage regulations in the United States serve the workers they are intended to help. Opponents of such measures assert that when faced with mandated increases in labor costs, businesses will either lay off workers, hire fewer low-wage employees in the future, replace low-credentialed workers with those having better qualifications or, finally, even relocate to avoid facing the increased costs being imposed on them.The authors give an overview of living wage and minimum wage implementation in Louisiana, New Mexico, Arizona, California, Massachusetts, and Connecticut to show how these policies play out in the paychecks of workers, in the halls of legislature, and in business ledgers. Based on a decade of research, this volume concludes that living wage laws and minimum wage increases have been effective policy interventions capable of bringing significant, if modest, benefits to the people they were intended to help.

The Economics of Legal Minimum Wages

The Economics of Legal Minimum Wages PDF

Author: Simon Rottenberg

Publisher: A E I Press

Published: 1981

Total Pages: 560

ISBN-13:

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Papers presented at a conference held at the American Enterprise Institute, Washington, D.C., Nov. 1 and 2, 1979. Includes bibliographies.

Myth and Measurement

Myth and Measurement PDF

Author: David Card

Publisher: Princeton University Press

Published: 2015-12-22

Total Pages: 455

ISBN-13: 1400880874

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From David Card, winner of the Nobel Prize in Economics, and Alan Krueger, a provocative challenge to conventional wisdom about the minimum wage David Card and Alan B. Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990–91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs. A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the "treatment" and "control" groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country. With a new preface discussing new data, Myth and Measurement continues to shift the terms of the debate on the minimum wage.

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