Poverty is defined as the state of being poor. However, poverty is also defined in relative and absolute terms. Relative poverty is poverty about the economic status or well-being of others; you're poor if you live under standards that aren't in the context of how society views a 'rich' person. Absolute poverty is the failure to meet basic needs such as food, clothing, and shelter based off of money needs. [endnoteRef:1] Poverty is an outcome of the Racial Wealth Gap....
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Employee Compensation and Motivation As a service company, the performance of employees determines the success or failure of the company. McDonald's should seriously consider not taking enough measures to make up for the criticism of employees. According to human capital theory, HR managers have a long way to go to judge employment and employee income behavior (Strober 2008). Lack of adequate compensation can affect a worker's motivation level. The organization should ensure that its employees have sufficient motivation to achieve...
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On October 15, 2018, the Florida Department of Economic Opportunity (DEO) reported that, successful January 1, 2019, the lowest pay permitted by law in the State of Florida will increase by $0.21 from $8.25, every hour to $8.46. This expansion is attached to the DEO's commitment under Florida law to correct the state's lowest pay permitted by law rate yearly dependent on the government Consumer Price Index for Urban Wage Earners and Clerical Workers in the South Region. To Minimum...
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Minimum wage is a term used to define the minimum amount of money an employer is required to pay the wage earner for the work that is performed during a given period. The wages are set by the wage board, wage council, the competent authority, or labor courts or tribunals. The purpose of this minimum wage is to protect workers against low pay. This is to make sure that the workers get their share of the fruit that they have...
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Introduction A minimum wage is essentially the lowest remuneration that employers pay their workers legally. It thus acts as a price floor below which workers do not sell their labor. Most countries introduced laws related to minimum wages by the end of the 20th century and New Zealand in fact, became the first country to enact minimum wage laws as early as 1894. The current minimum wage rate is $17.70 per hour in New Zealand and the Coalition Agreement between...
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In Jonathan Swift’s “A Modest Proposal” he writes, “it is a melancholy object to those who walk through this great town, or travel in the country, when they see the streets, the roads, and cabin doors crowded with beggars of the female sex, followed by three, four, or six children, all in rags and importuning every passenger for an alms” (19). Here Swift describes the streets of Ireland. In his brief description, the reader can imagine what he sees as...
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Literature Review: In January 2015 Germany passed a statutory national minimum wage (NMW). This is the first time Germany has had an economy-wide minimum wage. It was introduced at a level of €8.50 per hour. Previously there were only minimum wages in specific sectors of the German economy. The introduction of a minimum wage has been extensively debated by both economists and policymakers. It was argued that it would have significant negative implications on unemployment because a large proportion were...
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At the end of 2019, scientists began to observe the outbreak of the coronavirus that causes COVID-19; they first identified the virus around the city of Wuhan, China. COVID-19 has infected more than 170 million people worldwide, causing more than 54 million deaths worldwide. The ongoing spread of the coronavirus has become one of the biggest threats to the economy, largely because many people have lost their jobs en masse. The effect of COVID-19 on the demand for labor, with...
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In the United States, there are many unjust laws that lead to social inequality. In today's world, wage inequality has grown over the past 30 years, which creates many problems for people. Currently, minimum wage workers don’t make enough money to sustain a comfortable life. In the article ‘Serving in Florida’, the author Barbara Ehrenreich decided to do a research assignment by working a series of low-paying jobs and wanted to see how it felt like working with minimum wage...
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It is undeniable that the post-communist countries of Eastern Europe are now experiencing inequality. Assessing the causes of such a phenomenon is an intricate issue because of the very dynamic essence of the concept of inequality itself. Crucially, this essay will delve into the contrast between the 'distributive conception' of inequality and the 'relational view' of inequality and their implications. As such, this essay will explore the consequences of the metropolization experienced by such countries, the consequent social polarisation, and...
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If I had to choose one of the leading causes of death in the country it would be cancer. In 2016, cancer had the second-largest death toll, killing 598,038 people (Zuber, 2019). One of the health disparities being the leading cause of death is that breast cancer tends to affect more black women at a faster rate than it does white women ('Cancer Disparities', 2018). Another health disparity that is the leading cause of death is that individuals with low...
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With a population of 32.7 million, Malaysia is a multi-ethnic religious nation, distinguished primarily by three major ethnic groups: Malay and indigenous people, Chinese, and Indians. Malaysia has been effectively converting itself from a poor nation into a middle-income country since its independence in 1957. Despite difficult external factors, the economy of Malaysia has shown periodic expansion. It may also certainly assert its fighting success against poverty. Despite its progress in decreasing poverty, for certain geographical and societal factors, a...
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The average price of gas has been constantly inflating our economy. Of many countries, the US is one of the few places where a household commonly owns more than one automobile. Due to the current conflict between Russia and Ukraine, gas prices have skyrocketed. Russia ended up pulling the plug on the gas and oil supply. Tesla, an electric car manufacturer, has been a market leader with long-term benefits due to the zero need for gas. This leaves V8s and...
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Poverty refers to shortages of basic things like food, shelter, housing, and health facilities. Although the UN defines poverty as when a household earns less than 1 dollar per day, poverty goes beyond this. Poverty is a result of poor politics, harsh climatic conditions, and unequal social and economic welfare. Various measures can alleviate poverty. Firstly, through the provision of quality education. Embarking on free education to poor people through the building of classes and provision of teachers, since teachers...
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Income inequality has been a growing issue within the U.S. for decades. People are becoming increasingly richer while the poor somehow becomes poorer. People are starting to see polarization and communities are becoming increasingly divided. Many would think if this was an ongoing issue, then why is this widening gap continuing to increase? First, it is important to understand what economic inequality means; economic inequality is defined as the difference in wealth split between groups within society. This ongoing issue...
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Employer-employee relationships are controlled by a number of rules known as employment legislation. Discrimination, legal working ages, and safe working conditions are some of the issues covered by employment legislation. Employment code violations are typically treated as legal matters and are resolved by civil courts or disciplinary proceedings. Many complications and disputes could occur in an employer-employee relationship if there were no regulations. Workers are the ones that are most likely to be handled in an illegal or unfair way....
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One of Sicily’s prominent filmmakers, Giuseppe Tornatore, transcended the Italian film industry by breaking the conventional, stereotypical and ordinary. On the 17th of November 1988, Cinema Paradiso was released and it is a product of his creativity that helped the Italian cinema to its peak. The film follows the life story of a notable film director Salvatore di Vita who received news of the unfortunate demise of someone close to him. It takes the audience back to his childhood in...
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This week, the city council will be voting on whether to increase the minimum wage in our city to $15. It is reported that some workers are making as little as $7/hour or $9/hour in our city. As a council member, before I make a decision on whether to vote for the minimum wage increase or not, it is important to me to examine the issue from an economic perspective and not only an emotional one. The common arguments surrounding...
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Issues Employees Employees are vastly affected by the changes in the minimum wage. This is because what they earn has a drastic effect on their living such as choices in financial expenses. Through the perspective of the employees, the standard economic model of supply and demand suggests that the higher the wages for a job are, the more of the workforce is willing to work the job thus increasing supply (McGuinness, Freebairn and Mavromaras 2008). Therefore, the conclusion can be...
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Black and White Flashbacks: Looking Our Racist in the Eye In the film, American History X, he portrays the profound message of how prejudice and hatred can change people and bring them closer together. Shows how “hate is baggage and life’s too short to be pissed off all the time.” Although hard to watch the film American History X, the realism of the movie sends a powerful message of hatred and violence. Derek who had joined the neo-Nazi movement soon...
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Minimum wage: Labor wage or welfare regulator? Minimum fee: criteria for approving The criterion for approving a minimum wage is what the economic measure is for a troglodyte for an unqualified labor force, the basis for prestige for approving a troglodyte for a qualification is labor force and, before that, a goldmine for pay for a worker in the same sector is considered sotsialnata podrshka for financial support for the family. The criterion for a minimal fee, the sergeant, what...
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Abstract Using our knowledge and research of wage and hour laws to study minimum wage, law monitoring, statistics on entry leveled citizens and the labor economy: Locating the opportunities and obstacles between minimum wage laws, it will be determined on the occasion that minimum wage laws should or should not be abolished. The unique ways that companies and states have determined their wage with “living wage” has been adopted and financial, economic, and social consequences have been present. Statistics have...
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Ever wonder why jeans have that little 5th pocket? Well, originally it was for a pocket watch. But it became known as a coin pocket for many decades. This will be hard to believe but there was a time, before cell phones, when these physical phones were placed in public places like street corners, schools, and restaurants and that’s how people keep in touch when they were away from home. Anyway, these phones took coins to make phone calls. It...
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General Purpose: To persuade Specific Purpose: To convince my audience that raising the minimum wage is not a good idea. Central Idea: Increasing the minimum wage is not beneficial to the economy. Introduction I. Lately a popular source of debate has been the topic of minimum wage. Although there are many who will argue raising the minimum wage will be beneficial to those who are suffering from poverty, there are many statistics and facts that prove otherwise. II. Raising the...
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Democrats introduced a bill last month to gradually raise the federal minimum wage to $15 per hour by 2024. The new House Democratic majority sees this as an attempt to live low-wage workers and boost the economy. and focus on policy priorities. If implemented, this bill will significantly affect the lives of many college-aged students in the workforce, as workers under age 25 represent almost 50% of all minimum wage earners, according to the Bureau of Labor Statistics. With the...
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The minimum wage is the least amount of payment an employer is required to pay his or her employee. It is paid after completing a number of tasks the employer gives his or her employee. It can be hourly, daily, weekly, or monthly as per the contract agreement between the two parties. Minimum wage refers to the binding nature of minimum wages, despite the strategy of fixing them. Minimum wages may be set by statute, call of a competent authority,...
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The United States has varied opinions on the question of the minimum wage at both federal and state levels. Legislatures and workers are all keen on the decade-long quest to have wages raised. Significant amounts of workers prefer wages as high as $15 per hour (twice the wage floor of $7.5 per hour). Such a wage floor help regulate the labor market, giving workers and employers a fairground for operation. Without a minimum wage, employers may take advantage of employees,...
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Before I start my essay, I would like to introduce some abbreviations and special proper noun that appears in my essay. The first one is OECD. OECD is the abbreviation of the Organization for Economic Co-operation and Development. It is an intergovernmental economic organization with 36 member countries, promoting economic growth and world trade. The second one is the Gini coefficient, which stands for the inequality level, for example, the level of income. The Gini coefficient of zero is expressed...
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Milton Friedman, former presidential advisor, Nobel prize winner, and coauthor of Income from Independent Professional Practice, was a world-renowned economist, well known and respected throughout the economic community for prominent advocation of free markets in society. In Friedman’s video ‘There Is No Such Thing as a Free Lunch’, Friedman discusses many popular political aphorisms, as well as one particular aphorism that he helped popularize with the title of his book, published in 1975, ‘There’s No Such Thing as a Free...
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This essay will discuss the health inequality income and its impact on an individual’s physical and mental health. I will go into discuss stresses due to poverty and underprovided areas negative impact on the body and mind, as well as the lack of adequate health care for poorer communities. Definitions and common causes will be discussed, and examples will be provided. This essay will then go on to describe a policy that aims to address the impact of health inequalities...
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