History and Background of Minimum Wage
Do you ever wonder what minimum wage is or how it even started? Well, according to Dictionary.com the definition of minimum wage states: the lowest wage payable to employees in general or to designated employees as fixed by law or by union agreement. Minimum wage has evolved over the centuries and the United States is continuing to update and address the issue.
The earliest forms of minimum wage started way back in 1349 in Medieval England. King Edward III established this through the Ordinance of Labourers. It was originally created to encourage citizens back into the work force after the Black Plague in 1348 where it killed roughly 40 percent of the people. Ever since then, the world and most importantly …show more content…
The main reason minimum wage was established was to create a livable lifestyle by citizens forcing them to spend money, which would jump start the economy. When looking at Medieval England and the United States when they established the minimum wage laws it took their country, which was in terrible condition, and helped the country rebuild and recuperate its economy to make it a powerful nation. Minimum wage has given society many positives. When having a minimum wage law, it forces companies to pay a worker a fair wage rather than an unjust wage. The typical worker who makes minimum wage is an individual who does not have a college degree or is a student. Thus, putting a higher emphasis on a higher level education. One of the best perks of minimum wage (or hourly employee in general) is overtime. Another big part of the Fair Labor Standards Act was the establishment of overtime. This states that once an employee works 40 hours in a week, they will be paid one and a half times of their hourly wage for the rest of the week. The Fair Labor Standards Act protects people from businesses taking advantage of them, either by not getting paid …show more content…
Fair Wage vs. Living Wage The debate of the minimum wage of money people can make per hour and if it’s fair or even livable is a major topic. There is a fine line between what a fair wage and what a livable wage is. Can the minimum wage be both fair and livable? When looking at fair wage that it is defined by fair-wage-approach. Com as: proper wage adjustments and lead to balanced wage developments in the company with regard to wage disparity, skills, individual and collective performance. The main precedent can minimum wage at $7.25 per hour justify and be considered a fair wage. By looking at the job descriptions and determining what the individual does at work will determine if minimum wage is a fair wage for the employee. For example, if you are hired at Wal-Mart as a janitor or as a dish washer for a locally owned restaurant at the minimum wage of $7.25 per hour, it can be called a fair wage. The individual will not be doing any strenuous work and will be considered lower level employee. On the contrary to that, if an individual is hired as a cashier at Wal-Mart or a cook for a locally owned restaurant at the minimum wage of $7.25 per hour, it should be considered not a fair wage. These employees are a crucial part of the success of people visiting the business. As a cashier, you are handling with the money of customers and are interacting with them. As a cook, that is ultimately what a restaurant is judged off of, if the food is good or not. Having a
Do you ever wonder what minimum wage is or how it even started? Well, according to Dictionary.com the definition of minimum wage states: the lowest wage payable to employees in general or to designated employees as fixed by law or by union agreement. Minimum wage has evolved over the centuries and the United States is continuing to update and address the issue.
The earliest forms of minimum wage started way back in 1349 in Medieval England. King Edward III established this through the Ordinance of Labourers. It was originally created to encourage citizens back into the work force after the Black Plague in 1348 where it killed roughly 40 percent of the people. Ever since then, the world and most importantly …show more content…
The main reason minimum wage was established was to create a livable lifestyle by citizens forcing them to spend money, which would jump start the economy. When looking at Medieval England and the United States when they established the minimum wage laws it took their country, which was in terrible condition, and helped the country rebuild and recuperate its economy to make it a powerful nation. Minimum wage has given society many positives. When having a minimum wage law, it forces companies to pay a worker a fair wage rather than an unjust wage. The typical worker who makes minimum wage is an individual who does not have a college degree or is a student. Thus, putting a higher emphasis on a higher level education. One of the best perks of minimum wage (or hourly employee in general) is overtime. Another big part of the Fair Labor Standards Act was the establishment of overtime. This states that once an employee works 40 hours in a week, they will be paid one and a half times of their hourly wage for the rest of the week. The Fair Labor Standards Act protects people from businesses taking advantage of them, either by not getting paid …show more content…
Fair Wage vs. Living Wage The debate of the minimum wage of money people can make per hour and if it’s fair or even livable is a major topic. There is a fine line between what a fair wage and what a livable wage is. Can the minimum wage be both fair and livable? When looking at fair wage that it is defined by fair-wage-approach. Com as: proper wage adjustments and lead to balanced wage developments in the company with regard to wage disparity, skills, individual and collective performance. The main precedent can minimum wage at $7.25 per hour justify and be considered a fair wage. By looking at the job descriptions and determining what the individual does at work will determine if minimum wage is a fair wage for the employee. For example, if you are hired at Wal-Mart as a janitor or as a dish washer for a locally owned restaurant at the minimum wage of $7.25 per hour, it can be called a fair wage. The individual will not be doing any strenuous work and will be considered lower level employee. On the contrary to that, if an individual is hired as a cashier at Wal-Mart or a cook for a locally owned restaurant at the minimum wage of $7.25 per hour, it should be considered not a fair wage. These employees are a crucial part of the success of people visiting the business. As a cashier, you are handling with the money of customers and are interacting with them. As a cook, that is ultimately what a restaurant is judged off of, if the food is good or not. Having a