The Negative Effects Of Minimum Wage Laws

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The Negative Effects of Minimum Wage Laws

Author : Mark Wilson
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Negative Effects of Minimum Wage Laws by : Mark Wilson

Download or read book The Negative Effects of Minimum Wage Laws written by Mark Wilson and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The federal government has imposed a minimum wage since 1938, and nearly all the states impose their own minimum wages. These laws prevent employers from paying wages below a mandated level. While the aim is to help workers, decades of economic research show that minimum wages usually end up harming workers and the broader economy. Minimum wages particularly stifle job opportunities for low-skill workers, youth, and minorities, which are the groups that policymakers are often trying to help with these policies. There is no “free lunch” when the government mandates a minimum wage. If the government requires that certain workers be paid higher wages, then businesses make adjustments to pay for the added costs, such as reducing hiring, cutting employee work hours, reducing benefits, and charging higher prices. Some policymakers may believe that companies simply absorb the costs of minimum wage increases through reduced profits, but that's rarely the case. Instead, businesses rationally respond to such mandates by cutting employment and making other decisions to maintain their net earnings. These behavioral responses usually offset the positive labor market results that policymakers are hoping for. This study reviews the economic models used to understand minimum wage laws and examines the empirical evidence. It describes why most of the academic evidence points to negative effects from minimum wages, and discusses why some studies may produce seemingly positive results. Some federal and state policymakers are currently considering increases in minimum wages, but such policy changes would be particularly damaging in today's sluggish economy. Instead, federal and state governments should focus on policies that generate faster economic growth, which would generate rising wages and more opportunities for all workers.

The Right to a Living Wage

Author : Matt Uhler
Publisher : Greenhaven Publishing LLC
ISBN 13 : 1534500839
Total Pages : 202 pages
Book Rating : 4.5/5 (345 download)

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Book Synopsis The Right to a Living Wage by : Matt Uhler

Download or read book The Right to a Living Wage written by Matt Uhler and published by Greenhaven Publishing LLC. This book was released on 2017-07-15 with total page 202 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the disappearance of well-paying jobs and the increasing cost of living, it’s becoming more and more difficult to stay afloat in the United States. Workers who earn the minimum wage often can’t afford the most basic needs. In response, more than 100 U.S. cities have issued living wage ordinances, requiring payments that allow workers to afford food, clothing, shelter, utilities, and healthcare. It may seem obvious that everyone wins with a living wage. But does paying out a living wage help or harm the economy? Should corporations be forced to pay them? What is society’s responsibility to its workers?

Employment Effects of Minimum Wage Rates

Author : John M. Peterson
Publisher : American Enterprise Institute Press
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Employment Effects of Minimum Wage Rates by : John M. Peterson

Download or read book Employment Effects of Minimum Wage Rates written by John M. Peterson and published by American Enterprise Institute Press. This book was released on 1969 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Minimum Wages

Author : David Neumark
Publisher : MIT Press
ISBN 13 : 0262141027
Total Pages : 389 pages
Book Rating : 4.2/5 (621 download)

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Book Synopsis Minimum Wages by : David Neumark

Download or read book Minimum Wages written by David Neumark and published by MIT Press. This book was released on 2008 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of evidence on the effect of minimum wages on employment, skills, wage and income distributions, and longer-term labor market outcomes concludes that the minimum wage is not a good policy tool.

The Detrimental Side Effects of Minimum Wage Laws

Author : Claire Hovenga
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis The Detrimental Side Effects of Minimum Wage Laws by : Claire Hovenga

Download or read book The Detrimental Side Effects of Minimum Wage Laws written by Claire Hovenga and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The adverse effects of minimum wage legislation demonstrate how a government policy presumably intended to help people worst off in society can actually end up causing far more harm than good. In this case, the victims are unskilled laborers. By making it illegal for employers to pay unskilled workers wages equal to their marginal revenue productivity, it causes unemployment for all workers whose productivity happens to be below the minimum wage. It also widens the wage gap between whites and minorities because there are disproportionate numbers of unskilled and uneducated minorities compared with whites.

What Does the Minimum Wage Do?

Author : Dale Belman
Publisher : W.E. Upjohn Institute
ISBN 13 : 0880994568
Total Pages : 489 pages
Book Rating : 4.8/5 (89 download)

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Book Synopsis What Does the Minimum Wage Do? by : Dale Belman

Download or read book What Does the Minimum Wage Do? written by Dale Belman and published by W.E. Upjohn Institute. This book was released on 2014-07-07 with total page 489 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Myth and Measurement

Author : David Card
Publisher : Princeton University Press
ISBN 13 : 1400880874
Total Pages : 455 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Myth and Measurement by : David Card

Download or read book Myth and Measurement written by David Card and published by Princeton University Press. This book was released on 2015-12-22 with total page 455 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Minimum Wages

Author : Finis Welch
Publisher : Studies in Government Regulati
ISBN 13 :
Total Pages : 60 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Minimum Wages by : Finis Welch

Download or read book Minimum Wages written by Finis Welch and published by Studies in Government Regulati. This book was released on 1978 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph commenting on trends and economic implications regarding minimum wage labour legislation in the USA - develops a system of indexation relating to minimum wage projections to 1981, contrasts Black-White, men and woman workers as well as young workers in terms of labour force participation, income and unemployment and in light of changes in the level of minimum wages. Bibliography pp. 47 and 48, graphs and statistical tables.

The Consequences of Minimum Wage Laws

Author : James B. Rebitzer
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis The Consequences of Minimum Wage Laws by : James B. Rebitzer

Download or read book The Consequences of Minimum Wage Laws written by James B. Rebitzer and published by . This book was released on 1991 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists generally agree that the immediate and direct effect of a binding minimum wage law is to move firms backward along the demand curve for low skill workers. However, this prediction of worker displacement depends critically on a model of firm behavior that abstracts from problems of work incentives. In this paper we re-examine the theoretical basis for the consensus view of minimum wage laws. The central finding is that when firms use the threat of dismissal to elicit high levels of work effort, an increase in the minimum wage may have the immediate and direct effect of increasing the level of employment in low wage jobs. The formal logic of our model is similar to that found in the model of labor demand under monopsony. However, unlike the monopsony model, the positive employment effect of the minimum wage emerges in a labor market comprised of a large number of firms competing for the labor services of identical workers.

When Workers Do Not Know - The Behavioral Effects of Minimum Wage Laws Revisited

Author : Xianghong Wang
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis When Workers Do Not Know - The Behavioral Effects of Minimum Wage Laws Revisited by : Xianghong Wang

Download or read book When Workers Do Not Know - The Behavioral Effects of Minimum Wage Laws Revisited written by Xianghong Wang and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous experimental results have shown that the introduction of a minimum wage increases wages in a monopsonistic labor market. The results rely on the assumption that the minimum wage laws are common knowledge among employers and workers, which is often violated in less developed labor markets. This paper examines the effect of asymmetric knowledge about the minimum wage, and its interaction with the level of the minimum wage standard. We find that, whether the workers have knowledge about the minimum wage significantly changes the behavioral impacts of the minimum wage policy. With common knowledge, most firms offer wages beyond the minimum wage level. When workers do not know about the minimum wage policy, many firms, including those who used to pay higher wages before the introduction of the policy, choose to pay wages at the minimum level or lower their offers toward the minimum level. This causes the introduction of the minimum wage not effective in increasing average wages when the minimum wage standard is low. Therefore, a low minimum wage under asymmetric knowledge may potentially have a negative spillover effect on wages. The asymmetric knowledge also affects the employment level negatively. These findings help explain why the impacts of minimum wage are different in labor markets where workers have different degree of information access. This has strong implications for the implementation and welfare impacts of minimum wage laws.

Measuring the Impact of Minimum Wage Policies on the Economy

Author :
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 33 pages
Book Rating : 4./5 ( download)

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Book Synopsis Measuring the Impact of Minimum Wage Policies on the Economy by :

Download or read book Measuring the Impact of Minimum Wage Policies on the Economy written by and published by World Bank Publications. This book was released on with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Effects of the Minimum Wage on Employment

Author : Marvin H. Kosters
Publisher : American Enterprise Institute
ISBN 13 : 9780844770642
Total Pages : 142 pages
Book Rating : 4.7/5 (76 download)

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Book Synopsis The Effects of the Minimum Wage on Employment by : Marvin H. Kosters

Download or read book The Effects of the Minimum Wage on Employment written by Marvin H. Kosters and published by American Enterprise Institute. This book was released on 1996 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Clinton administration has claimed its proposal to increase the minimum wage would not affect employment; other research supports that a higher minimum wage means fewer jobs.

Critical Perspectives on the Minimum Wage

Author : Anne C. Cunningham
Publisher : Enslow Publishing, LLC
ISBN 13 : 076607675X
Total Pages : 178 pages
Book Rating : 4.7/5 (66 download)

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Book Synopsis Critical Perspectives on the Minimum Wage by : Anne C. Cunningham

Download or read book Critical Perspectives on the Minimum Wage written by Anne C. Cunningham and published by Enslow Publishing, LLC. This book was released on 2016-07-15 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

How Living Wage Laws Affect Low-wage Workers and Low-income Families

Author : David Neumark
Publisher : Public Policy Instit. of CA
ISBN 13 :
Total Pages : 178 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis How Living Wage Laws Affect Low-wage Workers and Low-income Families by : David Neumark

Download or read book How Living Wage Laws Affect Low-wage Workers and Low-income Families written by David Neumark and published by Public Policy Instit. of CA. This book was released on 2002 with total page 178 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Effects of Minimum Wage Laws in the United States

Author : Jean Alice Wells
Publisher :
ISBN 13 :
Total Pages : 646 pages
Book Rating : 4.E/5 ( download)

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Book Synopsis Effects of Minimum Wage Laws in the United States by : Jean Alice Wells

Download or read book Effects of Minimum Wage Laws in the United States written by Jean Alice Wells and published by . This book was released on 1953 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Minimum Wages and Employment - Theory and Empirical Evidence with a special emphasis on Germany

Author : Peter Schmidt
Publisher : GRIN Verlag
ISBN 13 : 3640263618
Total Pages : 37 pages
Book Rating : 4.6/5 (42 download)

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Book Synopsis Minimum Wages and Employment - Theory and Empirical Evidence with a special emphasis on Germany by : Peter Schmidt

Download or read book Minimum Wages and Employment - Theory and Empirical Evidence with a special emphasis on Germany written by Peter Schmidt and published by GRIN Verlag. This book was released on 2009-02-10 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2008 in the subject Business economics - Economic Policy, grade: 1,0 (A), University of Wisconsin-Milwaukee (Department of Economics), course: Labor Economics II, language: English, abstract: One of the most important issues that was in the center of the political debate in Germany in the last few months is the introduction of minimum wages. It was caused by the politically forced imposition of a minimum wage in the sector for postal services which, in the view of many experts, provides a competitive advantage for the major postal service company “Deutsche Post World Net”1 compared to its competitors. Then it happened that the “PIN – Group AG” one of the most important domestic competitors of the “Deutsche Post World Net” was threatened by insolvency as its largest shareholder the publisher “Axel Springer AG” was no longer willing to invest money in the “PIN - Group AG”. Additionally, many newspapers published by Axel Springer AG wrote articles against the imposition of a minimum wage for many weeks and published many interviews with economic experts warning about the negative effects of a minimum wage on the overall German labor market. Furthermore, political considerations, e.g. by the secretary of labor, to introduce a federal minimum wage in Germany even caused the chairmen of the eight leading economic research institutes in Germany to publish a letter in the newspaper “Das Handelsblatt”2 where they advise politicians against the introduction of a federal minimum wage if (large) employment losses should be avoided. On the other hand, a few other researchers, experts and politicians like the “IAB”3 as a specific labor market research institute believe that minimum wages even could create jobs and must not necessarily destroy them. This paper is motivated by this ongoing debate between economists and policymakers in the whole world. That is why in the first part of the paper the major theoretical framework which is used by economists to analyze and empirically assess the impacts of minimum wages on employment should be presented.

Health, Safety and Well-Being of Workers in the Informal Sector in India

Author : Sigamani Panneer
Publisher : Springer
ISBN 13 : 9811384215
Total Pages : 297 pages
Book Rating : 4.8/5 (113 download)

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Book Synopsis Health, Safety and Well-Being of Workers in the Informal Sector in India by : Sigamani Panneer

Download or read book Health, Safety and Well-Being of Workers in the Informal Sector in India written by Sigamani Panneer and published by Springer. This book was released on 2019-07-25 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the core problems of occupational health, safety and well-being of workers in the informal sector in developing countries, where it accounts for most of the rural labour force and a substantial percentage of the urban labour force. The sector is characterised by low incomes, unstable employment and lack of protection in the form of legislation/policies or trade unions. Though some health and problem-solving measures have been introduced, a focused academic effort to address the problems confronting workers in the unorganised sector, or informal economy, is lacking. The book evaluates workers’ physical and mental health in the context of labour migration, social inclusion of minorities and the differently abled, provisions for women workers, demonetisation, occupational safety for hazardous work, and in connection with various areas of informal work, e.g. agriculture, construction, transportation, sanitation, tanning, the tobacco industry, powerloom industry, surrogacy, and self-employment. It provides a well-rounded description of an analytical reflection on the challenges these workers face and focuses on social policy changes to help alleviate them. Accordingly, it offers a valuable asset for researchers and students interested in development studies, the sociology of work, health and labour economics, public health, and social work.