Applied Economics

NameUniversityClassDateMinimum WagePlanThe following procedure was followed in the process of develop this positionGoing by means of course materials (lecture notes , textbooks ) to understand more about the of lower limit pursueResearching on the country whose nominal net income would be compatible with UK s lawsUnderstanding similarities and differences in both countriesResearching on the theoretical background of minimal earnings law in economics literatureMaking notes that would be included in theWriting the by building on the notes taken . This was subsequently followed by editing and subsequent preparation of this final draftAbstractThe use of minimal wage laws as mechanisms of ensuring breach remuneration and livelihoods for lowly paid excavate force has been spreading in recent decades . Countries that deport practiced these laws for many years have been adjusting their minimum compensation upwards in belief that existing levels have been washed-ff by inflation . Despite the popularity , it is still not clear whether the laws unfeignedly help members of the undertaking force in need of better increased living wages . Some have argued that the policies be helpful while others , like this essay argue that minimum wage laws have more negatives than positives . This report is a major contribution on the continuing surround regarding minimum wage laws in the UK as well as in the joined States . In addition , many other countries in the orb are in the process of adopting laws that would justify respective bear on force better lives and job satisfactionHistorical Perspective : UK and USMinimum wage refers to the adjust amount of remuneration received by national labour force . Policies effecting this arrangement are either developed at the national level and also in regional legislative houses As a result , countries could a national minimum wage and several others from regions , whose policies depend on local just incomes .

However local minimum wages are commonly higher than nationally legislated laws Many countries in the world , including the developing ones are increasingly making use of minimum wage laws (OECD , 2003 ,. 334 . As a contribution to the minimum wage debate , this shall investigate on the effectiveness of the laws in United realm and the United States It shall be argued that the use minimum wage to guarantee better remuneration and livelihoods in the labour force has historically failed to meet expectations instead , the policy has been confining the intended members of the labour force into penuryThe choice to compare the two countries is occasioned by the similarities in effects of their respective minimum wage laws . In both countries , it is easy to see that most of the people at the rotter of respective ladder are minorities , most of which happen to be recent immigrants , or even descendants of immigrants who have been in the countries for shorter periods of time (Sowell 2004 . This state of affairs means that both countries minimum wage is directed at helping these minorities , among other citizens from poverty . The durations that both countries have been practicing...If you want to get a honest essay, order it on our website: Ordercustompaper.com

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