Econ Essay

290 words - 2 pages

opic: Some economists support higher minimum wage whereas some don't. What is your opinion?
Minimum wage should be outlawed for the disruption it creates in the economy because it makes jobs just as valuable to workers depending on wage, hinders certain industry from growing as fast as others, and removes the honesty of wage based on performance.

For non-related industries such as gardening and law enforcement, ...view middle of the document...

This creates a problem because workers may want to choose to garden at a minimum wage because it is safer and more tranquil that earning a minimum wage on the force.

Furthermore, operations would suffer due to the lack of demand from laborers. Especially for law enforcement agencies, cost of operation or production is much higher than that of gardening and frequently requires more workers. If more workers get paid a minimum price the company suffers by spending more on expenses or may choose not to employ. Thus creating a scenario where labor can either swing for the more difficult yet essential job or hobby oriented gardening for the same wage.

This minimum wage limit makes it harder for companies to pick out spectacular candidates for a job because it creates work based on the stratification of profit or advancements. That way laborers who are given any wages only receive small doses instead of fractions of what they actually produce. Such as a engineer working on a car for a week that sells for 10 times his weekly salary.

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