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...
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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...
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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...
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Globalization refers to the socialization, interaction, cooperation, communication, and engagement among organizations, governments, and individuals at the global level. Advancement in communication, transportation, and technology has helped to make globalization a realization where humans engage in real-time transactions, socialization, meetings, treaties, and engagement among others despite having disparate geographical locations. According to Pietro, Girsberger, and Vuille (n.d.), there are four...
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The more highly people endorse materialistic values, the more they experience unpleasant emotions, depression, and anxiety. The novel ‘The Pearl’, written by John Steinbeck in 1944, follows an allegory that poignantly and succinctly teaches the reader about the negative consequences of materialism. ‘The Pearl’ is about a Mexican Indian pearl diver named Kino who finds a valuable pearl and is...
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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...
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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...
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The value of small businesses is often underestimated because they are small. But in fact, this absolutely does not mean that they have little influence. Small businesses have a huge impact not only on the national economy but also on the economy of their communities. Small businesses are as unique and individual as their owners and span a variety of...
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When America declared independence from Great Britain, the Founding Fathers made it clear that they never wanted any American citizen to experience the tyranny that they felt again. One way they planned to do this was the separation of church and state. Under this theory, the government would not support any one religion, which would promote religious freedom in the...
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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...
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I thoroughly believe I encompass a strong, representative example of the free enterprise spirit. The free enterprise economy adequately provides me with opportunities for involvement in work and the community. Free enterprise is private resources owned, and competitiveness will thrive economically with minimal government intervention. In many respects, I value my personal freedom from the choices I make in the...
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Have you ever followed a trend? Are you a materialistic person? Do you use materials and objects, such as money, phones, car, and luxurious items to receive happiness? Everyone at one point in their lives would have desired to want something or wanted to be like the people around them. For example, to feel better, to look better, to convey...
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A survey done by the CDC during the Covid-19 recession shows that 40 percent of Americans are now grappling with at least one mental health or drug-related problem. Recessions are periods of time when economic activity declines, as well as the mental health of the general population, particularly among those who have lost their jobs. Unemployment rates rise during recessions,...
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Introduction In his thought-provoking essay, "Some Lessons from the Assembly Line," Andrew Braaksma offers a candid and insightful account of his summer working on an assembly line. Through his personal experiences and astute observations, Braaksma sheds light on the dehumanizing nature of factory work and its impact on the human spirit. This literary analysis will examine the key themes and...
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Nobody Should Be Left Behind Can a person live a normal life out of poverty with a minimum wage? The federal minimum wage is 7.25 since 2009. Which gives a person about $1,160/month without taking taxes out. This question is only considering a single person. In the aftermath of the basic expenses such as rent, utilities, food, gas, car payment,...
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Happiness is a difficult phrase to define. Everyone possesses specific perspectives of happiness from their very own experience. Some human beings would say money can purchase you happiness due to the fact they presume money may want to supply them power, whilst others disagree. From my very own perspective, I personally consider that money may want to no longer purchase...
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Consider the question, does money really bring you happiness? Most will say: “Obviously, I will give you money and we will be best friends”. In this essay, I want to argue my point of view that money cannot buy true happiness. Happiness is difficult to define. Everyone has a different view of happiness based on past behaviors. Rich people can...
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Africa is a vast continent in our world, and it is also a continent which our ancestors came from. There is a long history along with Africa, and people here made a lot of miracles like pyramids. Back to today, however, Africa has some complex social issues, and the major one is poverty. I can conclude there are basic three...
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In Max Weber’s article ‘Disenchantment, Enchantment, and Re-Enchantment’ he talks about the link between Protestantism and the elimination of magical and supernatural forces in the world. He believed that, along with Enlightenment, the Reformation was a powerful catalyst of a great historic process, he called ‘the disenchantment of the world’, where the magic withers away, leaving only a disenchanted nature...
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The article ‘The Rise and Fall of the GDP’ by John Gertner discusses how gross domestic production has been a good source of our country’s economic output, but how recently we have been disregarding that, although it puts into account our spending, imports, exports and many other factors, it has failed to put into account our well-being and prosperity as...
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Tea in not cultivated everywhere in the world. It is restricted to specific regions of the world due to the specific requirements of climate. Major of the producers of tea are in Asia are China, India, Sri Lanka, and African countries such as Kenya, Rwanda, Malawi, Uganda and Tanzania. The regions where tea is grown are generally located in the...
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The United States GDP in the second quarter was a total of $5,335,067 million. GDP is a total monetary or market value of all the finished goods and services produced within a country's borders within a specific time period. GDP does not take into account intermediate goods, which are goods used to make other goods, such as oil that is...
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For the purpose of this essay GDP stand for gross domestic product is defined as the value of all goods and services produced in an economy in a year, according to Professor Jeffry Frankel of Harvard University. This paper will argue whether countries that face social issues affect positively or negatively on the economy. The three main arguments to be...
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Gross domestic product (GDP) gauges a nation's financial exhibition over a given period, commonly one year or one quarter. Thus, estimating the economy of the nation is the most significant monetary measure. This paper investigates the development and diversity of Australia's gross domestic product. Australia’s Growth Decade As indicated by the report by Aslani et al. (2017), the growth rate...
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Economic growth around the world has meant countries has been able to develop at an exponential rate, particularly those economies in third world countries. Gross domestic product or GDP gives an indication of the country’s economic situation. Many economists would use gross domestic product to provide figures to help determine the rate of growth and the size of an economy...
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Introduction Venture capital has long been a catalyst for innovation and economic growth, fueling the development of groundbreaking technologies and driving entrepreneurial ventures. As we stand on the cusp of a new era of disruption and transformation, the future of venture capital holds immense potential. In this opinion essay, I will share my personal perspective on the future of venture...
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There is an ongoing debate about the two economic systems namely, Socialism and Capitalism. The main difference between these two is the ownership of the assets. In Capitalism, assets are owned by private companies, while in Socialism they're owned by the government (Pettinger, 2017). According to Tejvan Pettinger (2017), capitalist societies' income depends on the market forces of the economy...
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Changes in the U.S. from 1865-1901 April 9, 1865, signifies the abolishment of Slavery and the end of the Civil War, beginning a new period in American history. This period saw a rapid rise in American industrialization and opportunities available to middle-class people, alongside a big surge in job openings for working-class people. While industrialization changed the country for the...
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Early into the nineteenth century, the railroad business started flourishing. With that came steel, wood, coal, and other industries. A few who were successful in these businesses were called entrepreneurs and robber Barons. ‘Robber Baron’ is a specific term that was given to business tycoons in the nineteenth century. All of them were entrepreneurs, but some were called robber barons...
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Introduction: This Essay is about Emily who works as a luxury retail manager in the UK and moved to the UAE after getting an attractive offer from a rival company. After coming to the UAE, she realized that the culture in the UAE was different from that of the UK in the way the customers interacted with her. Customers would...
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