Minimum Wage Essays - Labour Economics, Employment Compensation

Minimum Wage ?An increase now will boost income for the poorest workers without the danger of creating more unemployment.?, states the New York Times in September 1999. Is this statement about an increase in minimum wage really true? There are two sides to the debate about minimum wage that both hold valid points. The minimum wage is a major issue in the world of economics and politics. Political figures often prey on the public's general ignorance of economics and promise to increase the minimum wage. Economists ,on the other hand, view the long term effects and see the damage it can cause. David Card and Alan Kruegur, two economists at Princeton University conducted a study in April 1992 on New Jersey's 18% minimum wage increase while Pennsylvania's minimum wage remained the same. They measured the change in employment in the state's fast ? food restaurants between February and December that year. Card and Kruegur found that the number of jobs grew in restaurants where pay had to rise, compared with those already paying more than minimum was and compared with joints in neighboring Pennsylvania, where the minimum did not change. The study also found no difference between high- and low- wage states. Most people would be delighted to here the above. They would receive more money and their standard of living would increase. But most people do not take into account the negative side effects of increasing the minimum wage. The survey taken by Card and Kruegur was done over the telephone. Fellow economists charge that the questions were vague and errors crept into the numbers. Another study was done using the businesses payrolls found that New Jersey fared far worse than Pennsylvania. Positive effects of the minimum wage can be the obvious; more money for people. They would have more money to spend , the economy would boom and everyone would be happy. Not so; in fact, this would only encourage inflation and increase prices. Money become lesser in value and producers would have no choice but to raise prices in order to make profit. Another negative aspect of raising the minimum wage is unemployment rising. Supply of workers would exceed the demand for workers. Employers would only be able to hire a lesser number of workers. It may also influence teenagers to leave school for a high paying job and make it more difficult for teenagers looking for work to find jobs. Low skilled workers would be left without jobs, seeing as how it only make sense to hire the higher skilled worker verses the lower skilled worker. The minimum wage debate is a touchy issue among many economists and political figures. While there are some positives aspects, the negative far out away the positives.

Billy the Kid essays

Billy the Kid essays Billy the Kid was born in the East, came to New Mexico in the 1870 ¡s, and started out on his own from Silver City. Some of the people said Billy the Kid was a hero, some said he was a murder. After reading Etulain ¡s essay,  ¡Billy the Kid: Thunder in the West ¡ (36-51), I don ¡t think Bill the Kid was a hero just because he killed four people. What is a hero? Some one can be a hero if he kills another, and heroes can kill people, but they kill those people is for everyone, not just for themselves, which means they were heroes because they killed evil people who destroyed society. And a hero should deserved punishment bravery. Otherwise they are murderers. Unfortunately, Billy the Kid was a murder, not a hero. The first example of Billy the Kid as a murderer concerns the first person he killed in Arizona (37). In mid-August 1877, Billy the Kid came to the cantina near the boundary of the Camp Grant military reservation (37). When he arrived, a burly Blacksmith named Cahill called Billy a  ¡pimp, ¡ (37) and then Billy retaliated by calling the blacksmith a  ¡son of a bitch, ¡(37). A moment later a wrestling match ensued, and Cahill began to pummel Billy. But Billy pulled out the .45 stuck in his belt, shoved it into the belly of Cahill, and then pulled the trigger. Cahill rolled aside in agony and then died the next day. Thus, because senseless act of violent, Billy the Kind murdered Cahill. I know it was Cahill that said the bad things to him first, but Billy the Kid didn ¡t have to kill Cahill. When Cahill started to say something bad to Billy the Kid, he could have ignored him and left Cahill alone. If Billy the Kid at that time had just ignored what Cahill said, no thing would have happened. Cahill ¡s dead did not benefits anyone in the world except Billy, who may have felt happy. Therefore, Billy the Kid was a murderer, because he killed Cahill. The second example of Billy the Kid being a ...

Reflection Assignment for the Intro to Orienteering Class Essay

Reflection Assignment for the Intro to Orienteering Class - Essay Example Consequently, we split into several groups and allowed to walk through the park, carrying out our studies on the environment. Most of the tracks were muddy and led deep down the forests. As a result, most of us could not trace their way back to the camp at the end of the day. However, the game rangers and tour guides came to our rescue. The reason for getting lost in the forests was the lack of adequate orientation on the geography of the park. We did not have a map to guide us on the tracks and routes to use while in the forests. In addition, neither the school nor the game wardens assisted us with compasses that could help us back to the camp. Orientation is critical before one engages in any outdoor activity as it helps them to conduct a reconnaissance. Notably, this helps the person to familiarize him or herself with the routes to use, the culture of the people, the nature of the environment, and the potential risks. Consequently, one can prepare adequately for the activity. There are instances when people get lost due to lack of orientation and lack of map reading or both. Our experience exemplifies the adverse effects of the lack of direction. In other cases, one may fail to interpret a map correctly especially when they have to locate a place using longitudes and latitudes. The trip changed my mentality towards approaching new places. I learnt that it was important to gather information about new places prior to the visit. It also scrapped off my all-knowing mentality. The highlight of the trip was the instance when we got lost in the forest. It was awkward how we could not retrace the routes we had used. None of us wanted to imagine a night in the cold with a prospect of wild animal attacks. One of the things I learnt on the trip is that it is always critical to consult when one is clueless. None of us had taken the initiative of asking for a map or a compass from the teacher or game rangers.

Cooperation Between the Automobile Company Honda and the Government of Essay

Cooperation Between the Automobile Company Honda and the Government of Japan - Essay Example It is also considered the second largest automobile manufacturing country in the world; it also has the largest electronic goods industry as well as one of the most innovative countries in terms of patent filings (World Intellectual Property Organization, 2011). With much competition from other countries, Japan has shifted its focus on high technology and highly specific goods, including optical goods and hybrid cars. Japan is also known for its credit issuances with its trade surplus and investment surpluses (Chandler, 2011). It also has 13.7% of global private financial assets, registering at about $14.6 trillion (Hindman, 2010). About 68 companies in the Fortune 500 are found in Japan, and the Tokyo economy alone represents the largest metropolitan economy worldwide. Since 1960, Japan has enjoyed massive economic growth and development. Even in the aftermath of significant destruction during the Second World War, Japan was able to register significant gains in its economy and deve lopment. Like other countries in the world, it too has experienced periods of downturns in its economy. In 2010, it was deposed by China as the second largest economy in the world (Lah, 2011). In the early to late 1980s, the increase of their stock and real estate prices, their economy experienced the Japanese asset price bubble, and this period ended when the Tokyo Stock Exchange during the early 1990s crashed (Lah, 2011). Its economic growth rate suffered significantly during the 1990s. From 2001 to 2010 however, it was showing signs of significant recovery as it managed to perform better that Europe and the US (The Economist, 2011). Japan is considered a... This essay presents a retrospective comprehensive analysis of the economic development of automobile company Honda against the background of socio-economic development of Japan. Just as Japan developed into one of the world’s largest economies, its MNCs, including Honda became one of the world’s top automobile corporations. Honda is a Japan-based public corporation which is primarily involved in the manufacturing of automobiles and motorcycles. Since the end of the 1950s, it has been considered the largest motorcycle manufacturer as well as the largest manufacturer of internal combustion engines in the world. In 2008, it even surpassed Chrysler as the fourth largest automobile manufacturer in the US. Japan is considered to be the third largest economy in the world following the US, and the People’s Republic of China. In 2011, the International Monetary Fund declared that the per capita GDP of the country was at $34,362, the 24 highest GDP in the world. It is also considered the second largest automobile manufacturing country in the world; it also has the largest electronic goods industry as well as one of the most innovative countries in terms of patent filings The development of Honda as an MNC is significantly related to Japan’s socio-economic development. The corporate culture of any MNC is often affected by the political and the socio-economic culture of the country as a whole. Japan has established itself as a technological innovator, capitalizing in electronic developments as well as industrial innovations

Distinguishing Whether Virtue Is Knowledge

Distinguishing Whether Virtue Is Knowledge Plato presents Socrates views on the question whether virtue is knowledge and whether it can be taught in several dialogues, most notably in Meno. In this dialogue, Socrates makes many different arguments on the subject of virtue. These arguments include how virtue is defined and whether or not people can acquire it. He examines the ways that virtue can be attained; whether or not one is born being virtuous, whether virtue can be taught or it is another factor for virtues people have. In this essay I will focus on the question of whether virtue can be taught. Platos answer is that virtue cannot be taught. In this essay I will suggest that Plato could have framed the questions a bit differently, which would have probably given him a different answer. In particular I will argue that Plato might have done better to ask whether virtue could be learned instead of asking whether virtue can be taught. The Meno begins with Meno asking Socrates whether virtue can be taught. The argument then is drifted then to another question, what is knowledge. Then Meno proposed an interesting paradox: one can never find out anything new: either one knows it already, in which case there is no need to find it out, or else one does not, and in that case there is no means of recognizing it when found (Plato 1997, 80d-e.). In other words if one does not already know what arà ªte (virtue) is, he cant even search for it, because if he does not know what it is already, then even h he searches, he wont be able to know when one has found it. Socrates suggests a way to solve this dilemma which is based on the Pythagorean view of the immortal soul. According to that notion, the soul, after the physical body dies, is reincarnated and thus never destroyed. If one can never acquire any new knowledge and at the same time it is obvious we are always learning new things, then it is be concluded that learning mus t be a matter of recollection of past life experiences and knowledge. In other words there is no such thing as teaching, but only remembering. In the Meno he demonstrated with a young slave boy who apparently didnt have any knowledge of geometry. By asking the young boy questions he managed to show that the boy had knowledge of certain mathematical theorems. Meno asks again his original question, that is whether one can be taught virtue, or one gets virtue by nature or in some other way. Socrates consents to proceed but argues that they need a common ground due to the fact that neither of them can say at this point what virtue is. Then Meno is made agree that if virtue is not knowledge then it cannot be taught, and if a knowledge then it can be taught. He points out that one can teach something only if one knows what it is that he is teaching. Someone who does not know himself how to drive a car seems unlikely to be able to teach someone else how to. Socrates and Meno much agree that there is no one that truly knows what is meant by virtue and because of this reason cannot be taught. According to Socrates, If virtue could be taught, we should be able to know not only those who teach it but also those who learn from them, which in truth we cannot easily do (Plato 1997,HYPERLINK http://www.perseus.tufts.edu/cgi-bin/ptext?lookup=plat.+meno+96c 96c). Socrates claims that teachers for horsemanship, medicine, etc. exist and everybody recognizes these as genuine teachers, whereas people dont agree about whether the Sophists really do teach virtue. Socrates goes one to speak of Thucydides, who had two sons, neither of which was considered to be virtuous. However, it is said that Thucydides educated his children in many different disciplines, but it seems that he could not find a teacher of virtue even though he found teachers for other aspects of life he found valuable. He could not teach it himself either, even though he himself was known to be virtuous. Therefore it seems virtue cannot be a form of knowledge. In order for something to be knowledge, someone must be able to teach it to others. Socrates concludes that virtue cannot be taught and that there is no means or method by which virtue can be acquired. Virtue is simply shown as coming to us, whenever it comes, by divine dispensation (reference?) In my view, if Plato had framed the questions somewhat differently, he might have gotten a different answer. That is Plato could have better asked whether virtue could be learned instead of asking whether virtue can be taught. What I mean to say is that asking whether one can be taught something entails that the relationship of a student and a teacher, whereas asking whether something can be learned implies only that there is a student (whose life experiences might be said to be a teacher.) For example, to ask whether I was taught geometry is to ask whether a teacher taught me geometry. Whereas to ask whether I learned geometry is simply to ask whether I learned it, whether or not I was taught it by a geometry teacher or learned geometry myself either from (lets say) a book or by some other means. Learning can come in various forms. In order to learn something, one does not require a teacher in the strict sense. For instance, learning can be achieved from studying people who have virtue and yet the latter may not be aware that they are studied. So a man may be learning virtue, and his teachers may be virtuous, even though the teachers might not even be alive. Another form of learning is experience. Virtue may be learned through personal experience. In this example, the teacher would be both life experiences and the reflective nature of the learner. There is still another form of learning. A man can learn, even if he cannot offer an explanation of how he learned or of what he exactly knows. For instance, after someone has been through a particular problem in his life, he can then detect that a relative of his is going through the same problem. And although he can know it, he cannot give an explanation of how he recognized it. Another example is that of the musicians or painters who have learned their craft and are able to perform well, but find it almost impossible to give an explanation of what they have learned. So the question whether virtue can be taught is a much different, and narrower, than whether virtue can be learned. Plato is right in suggesting that virtue cannot be taught. I believe that we all know or have heard of people who recite rules of virtue (such us be compassionate or be honest,) but find it impossible to put them into practice. Certainly in this sense virtue cannot be taught. A mentioned above, having the ability to be virtuous is like having the ability to be musical, which is to some extent instinctual. So, for example, it could be argued that knowing when, for example, to offer help to a friend when he needs it, is a matter of instinct or judgment. All of this means that although virtue may not be taught, this is not to say that virtue cant be learned. Plato suggests the notion that virtue is inborn. Certainly this is to some degree true. There are some people with an exceptional capacity for virtues like compassion, etc. since they were born. Yet others look as if they are born with little to no moral conscience, which seems to be necessary for virtue to exist. However what this means is just that the foundation of virtue is inborn, not that it cant be learned. In the same way that we comprehend the fact that one can be preached how to be virtuous but fail to be virtuous in practice, the converse is also possible: people can refine the ways they understand virtue, they may become more virtuous by reflective practice, and their views of how to act in a virtuous way changes significantly as they grow up. In my view, if Plato put his questions in a different way (that is if he had asked whether virtue can be learned, instead of whether virtue can be taught) he might have found a much more affirmative answer.

gatdream Death of the American Dream in F. Scott Fitzgerald’s The Great Gatsby :: Great Gatsby Essays

Death of the American Dream in The Great Gatsby The American Dream embodies the belief that each person can succeed in life on the basis of his own skills and effort. This idea awakes and develops during the 18th and 19th centuries - a period of fast development in the United States. The issues of growth, progress and money become a major theme in American society, which is why Scott Fitzgerald's novel The Great Gatsby focuses on this problem. Through the characters Daisy Buchanan and Jay Gatsby, the author impressively presents a failure in achieving this dream. The collapse of Gatsby's attempt to win Daisy proves that dreams, money and blind faith in life's possibilities, are not enough for a man to reach his goals. Gatsby perceives Daisy as a rich, beautiful and charming young lady, who represents the perfect woman. This ideal inspires his love and evokes his dream to reach her. He is a poor and uneducated young man, without any past. This is why Gatsby is impressed by the glamour and careless gayety that surrounds Daisy. That veneration is expressed in his words: "I was flattered that she wanted to speak to me, because of all the other girls I admired her most." The beauty of her life, fill Gatsby's mind with passionate sense of mystery and love. He sees Daisy as an "excitingly desirable" woman, which makes him thrilled, but at the same time unsure about the future. Even though he feels she is unreachable, he keeps his hope, which inspires him to fight for her. Gatsby's ambition represents the American Dream. He believes that despite his empty past and lack of education, he can succeed on the basis of his abilities, hard work and money. Gatsby does everything - legal and illegal in order to gain the wealth and property that will win him Daisy. The source of his money is unclear, and as Tom Buchanan suggests he is a "bootlegger". This denotes that Gatsby is determined to achieve his goal and is ready to put all the efforts needed to accomplish his high set aim. He has a blind hope in the abilities of life - he trusts that money can buy him Daisy's love.

Improving Labor Standards In Developing Countries Economics Essay

â€Å" The modern transnational corporation ( MNC ) is an economic, political, environmental, and cultural force that is ineluctable in today ‘s globalised universe † ( Chandler and Mazlish, 2005: 19 ) . Todays planetary economic system and political relations are greatly influenced by the forces of globalisation[ 1 ]. In this context, Multinational Corporations ( MNCs ) phenomenal growing since 1980s has witnessed an impact on every domain of modern life ; such as cars, commercial aircraft, Information Technology, consumer merchandises, nutrient and drinks which makes its function important in this ‘global era ‘ ( Chandler and Mazlish, 2005: 2 ) . With the liberalization of international trade and free flow of capital, big Numberss of developing states have espoused into international trade agreements ; which have significantly shaped the planetary forms of trade and international division of labor ( Zammit, Forthcoming ) . In this context, MNCs are planetar y houses that manage production, grosss, and investing beyond its boundary lines along with a pool of international human resource. With the coming of globalisation epoch, the inquiry of set uping minimal labor criterions for developing states has raised multifaceted issues, such as economic, political and moral which to day of the month remains combative[ 2 ]. For past two decennaries efforts have been made by the United States, along with other beforehand state authoritiess, and the International Confederation of Free trade Unions ( ICFTU ) , to set up many-sided regulations in the World Trade Organisation ( WTO ) to implement higher labor criterions globally. These criterions were being placed to take rigorous trade steps against states deemed unable to keep core labour criterions. ( Singh and Zammit: 2004 ) . However, this enterprise did non happen as developing states opposed this thought and marred this talk by veiled protectionist schemes. In this context, this paper focuses on the outgrowth of ‘global concern revolution ‘ since 1980s and the mode in which it affects labour criterions in developing states. The paper has two cardinal purposes, foremost to measure the cardinal issues in this on-going argument on labor criterions in the literature, and 2nd to analyze the ability of large concerns to better labor criterions in the labour intensive export-oriented work force in the context of planetary value ironss based in developing states. In making so this paper will analyze work conditions of workers employed at the underside of value ironss in developing states. This paper structures ‘ around five elements: I ) an overview of the international labor criterions, this subdivision will research the contention around core labor criterions and it significance from the position of large concern ‘ ability to better them ; two ) Economic development and labor criterions, this subdivision will discourse nature and form of international trade and investing and the its effects on rewards, employment ; three ) the paper so examine the development of planetary production webs and value ironss, in making so the paper will look at the impact of planetary production on working status in the informal sector concentrating on dress and footwear industry in Pakistan, as these industries are labour intensive ; four ) the consequence of developing state trade on labour market conditions in the North ; V ) a brief expression at the possible function of International Labour Organisation ( ILO ) , host authoritiess, Non-government administrations NGOs, W orld Trade Organisation ( WTO ) and Trade Unions to better labor criterions by partnering with planetary large concern. This paper argues that aˆÂ ¦ .International Labour Standards: The On Traveling ArgumentThis subdivision focuses on divergent positions of developed and developing states on planetary trade and labour criterions. The conflict between advocators of a planetary labor criterions and oppositions of the criterions is based on economic and political struggles between developed and developing states. In order to asses the ability of MNCs to better labor criterions in developing states, it is indispensable to be clear about what is meant by labour criterions and understand why they are extremely combative. The contested labor criterions are embodied in ILO 1998 Declaration of Fundamental Principles and Rights at Work, as the benchmark to mensurate labour criterions. Of these criterions, I ) freedom of association and right to collective bargaining ; two ) freedom from forced labor ; three ) the abolishment of child labor and four ) the riddance of favoritism in the workplace are considered to be core labour criterions ( CLS ) . These criterions were jointly accepted by the member state provinces to continue them ( Singh and Zammit, 2004 ) . However, this has non been the instance. These core labor criterions are viewed by many NGOs as basic human rights. The nucleus criterions are besides known as â€Å" societal clauses † on the footing of human-centered evidences. However, Singh and Zammit argue, by categorising nucleus labor criterions as human rights will forestall any farther argument to take topographic point on happening a favourable manner to implement them in developing states ( Singh and Zammit, 2003: 10 ) . The Declaration clearly states that â€Å" We reject the usage of labor criterions for protectionist intents, and agree that the comparative advantage of states, peculiarly low-wage developing states, must in no manner be put into inquiry † ( WTO, 1996 ) . However, there is differentiation between nucleus labor criterions and other labor criterions, which besides factors into ‘social clause ‘ and normally embodies labour criterions such as minimal rewards, restriction of work hours, and occupational wellness and safety. The function of other labour criterions can non be underestimated in the visible radiation of nucleus criterions as they play a important function to analyze the influence of MNCs on criterions. Therefore, â€Å" labour criterions can be understood as societal ordinances † that are â€Å" designed to turn to fairness, wellness and safety † , and at the same time economic in nature to modulate r ewards and control motions in the market ( Mehmet 1999: 90 ) . Although, liberalization of free trade has offered both challenges and chances to states based in South ; Elliott and Freeman note, that many developing states are committed and inclined to better nucleus and other labor criterions. Many of the developing states have Torahs to keep ‘decent labour conditions ‘ ( Elliott and Freeman, 2003: 11 ) . However, due to weak economic constructions and deficiency of resources and inability to implement labour codifications, shackles the betterment of criterions in developing states. Hence, argument over labour criterions is on-going, the inquiry is what are the ideal criterions and what is the best manner to integrate them ( Singh and Zammit, 2004: 3 ) . It is proposed, that as labor criterions aid equilibrate the involvements of workers and capital within states and within the planetary economic system ; workers through corporate brotherhoods should take upon themselves to implement these criterions. [ Connect ] Singh and Zammit argues that since nucleus labor convention do non include minimal pay, hence, execution of nucleus criterions will hold no impact on pay degrees and other labor costs and hence, developing states should follow this criterion.II Nature and Pattern of International Trade and Investment: Consequence of developing state trade on labour market conditions in the NorthThere is complex relationship between the labor criterions and economic development. The International trade enlargement has brought labour markets of developed states in close contact with those of developing states[ 3 ]. This economic relationship has reaped great benefits such as heightening the development in the development states through the transportation of cognition and foreign direct investing ( FDI ) from the North. On the other manus, developed states in the North has benefited from this trade relationship by seeing lifting criterions of life. However, Wood notes, that this relationship has affected the unskilled labor of North, by diminishing rewards and doing them excess ( Wood, 2004: 1 ) . The 1947 preamble of the original General Agreement on Tariffs and Trade ( GATT ) stated: â€Å" Relationss among states in the field of trade and economic enterprise should be conducted with the position of raising criterions of life and guaranting full employment † ( cited in Harvey et Al, 2000: 4 ; Chan, and Ross. 2003: 1012 ) . This facet of globalisation has an impact on workers from both South and the North. For illustration, developed states are concerned that trade with low-wage states which is non synonymous for low labor criterions states are responsible for increasing pay inequality and loss of employment chances in developed states. Nolan argues that the â€Å" planetary concern revolution † has â€Å" changed the nature of the capitalist house, the form of competition and the manner in which economic production is forming in much of the planetary economic system † ( Nolan, 2006: 1 ) . This development of planetary concern has generated competition at planetary degree, which compels houses in similar industries to unify their resources in order to accomplish economic systems of graduated table and derive competitory advantages of houses. Therefore, these amalgamations and acquisitions make MNCs powerful entity to play a dominant function in the planetary production and trade. ( Connect with following parity ) The ordinances of the new planetary production system and trade have been redefined under the counsel of transnational corporations and their subordinates, developing ‘system planimeters ‘ in planetary value ironss. The planetary retail merchants employ new engineerings and methods acquired through amalgamations to exercise force per unit area on houses in supply concatenation. These system planimeters posses unequal bargaining power in value ironss, as they put force per unit areas in the retail sector, for consolidation to their first grade providers for ‘right monetary value ‘ and ‘right clip ‘ , who further pass the force per unit areas to bottom of the supply concatenation which is normally labour intensive and outsourced to developing states to entree cheap labour. Therefore, making ‘cascade consequence ‘ to obtain economic systems of graduated table. Nolan argues this â€Å" ‘cascade consequence ‘ will hold profound deductions † for southern states houses â€Å" in catching up † at the planetary degree, that may make entry barriers into planetary concern ( 2006, 155 ) . From developing states ‘ positions, entry into value concatenation plays a important entry point for their local corporations to hold entree to â€Å" the planetary trade good ironss of nucleus houses † located in developed states ( Nolan, 2006: 3 ) . Therefore, less developed states ‘ houses admission is non entirely managed by the trade policies but besides by the tactful determinations of the parent houses in the value ironss. Although MNCs play a important function in developing states by puting in different industries and supplying employment chances with their economic and industrial power, the developed states ‘ authoritiess have exploited the ‘weak bargaining place ‘ of developing states to make more avenues for large concern ( Madeley, 2008: 17 ) . How Labour criterions and patterns Therefore, â€Å" MNCs are non merely economic entities but portion of complex interplay of factors † , that has both positive and negative effects on societal, cultural environment of the host states ( Chandler and Mazlish, 2005: 3-4 ) .