Does your country have a minimum wage? What are the advantages and disadvantages of a national minimum wage?
http://www.sltrib.com/sltrib/opinion/56929334-82/minimum-wage-federal-level.html.csp
http://www.sltrib.com/sltrib/opinion/56929334-82/minimum-wage-federal-level.html.csp
This article handles with the minimum wage of the U.S. Also, there should be some problems if the U.S. policy raised the minimum wage. In my country, we have a minimum wage in most of stores not in company. For example, in part-time-job, workers should be paid with a minimum wage and got a monthly income. I think a minimum wage policy has an advantage, which gives people an arranged income that provide people feel stable. Not a regular employee will like this policy, however, people who want to get money according to their capablities will not like it. They know their abilities and they want to incentive because it will motivate them to eager to work much more.
ReplyDeleteI am Kyusuk hahaha
DeleteIn Korea, there is a minimum wage about 4$ per hour. Compared to the United States, it is small amount of money, so I was surprised when I worked at BYU campus at first. I think the main advantage of the minimum national wage is its fixed characteristic. If there is a national minimum wage, there is no difference between big city and small city. If the workers do the same work and are paid differently according to their city, it can be unfair for them, especially for large countries such as China and the United States. Therefore, many workers are satisfied with the stable minimum wage. However, it also has disadvantage. If there is an economic variety in the country like a sudden inflation, people who earn minimum wage can't live appropriately. The minimum wage will be too small amount of money for them to live.
ReplyDeleteThis article tells about the effect of higher minimum wage "When you raise the price of employment, guess what happens? You get less of it." and 3 steps to reform the federal minimum wage - to index it to inflation, to make up for some of the purchasing power, and augment the earned
ReplyDeleteMongolia has a minimum wage, but the minimum wage is calculated by month, not per hour work. That means the Mongolian minimum wage is 108.000 T per month which is roughly 100$ per month, and I'm talking about 4 years ago the wage policy. I'm pretty sure this amount is updated, because Mongolian economy is increasing. The Mongolian minimum wage policy has some advantages and disadvantages. One of the disadvantages is part time jobs don't fit in this policy. So, salary of someone who has a part time job would be negotiated between two parties, employee and employer. The advantage of this policy is some jobs have less work days a month. Thus, even though someone works 10 days a month, his salary should meet the minimum wage.
ReplyDeleteIt is really interesting that topic about minimum wage, but also it is a very delicate topic. Around the minimum wage there is many people, institution, and system involved. For example, all the people are affected by the raising wage. The companies will feel a great difference in its budget. But the institution which will be more affected is the government, directly or not. Right now, the government is passing by a very tough moment with the shutdown and my question is, why do they think about raising wage if they don't even have money for pay the debt? It is totally true that may the raising wage the people can spend more money. But in my opinion, I believe that the government need to have the money and don't give the money which the government doesn't have. That is my opinion. 1st solve the financial issue, because there is others way to do it and after thinking about wage.
ReplyDeleteThis is Pedro. My country does have a minimum wage, which is really low. There are both advantages and disadvantages about having a minimum wage. One of the advantages is that people will have kind of a extra security when it comes to salaries. Also, they can prepare their budget by knowing how much the minimum wage is. On the other hand, minimum wages can be really bad because it can settle a really low salary that it will not allow people to have enough money.
ReplyDeleteColombia has a minimum wage that is lower than american wage. The main advantage of minimum wage are that they help minimum wage workers out of poverty by increasing their purchasing power. On the other hand, employers are likely to not hire as many workers if they have to pay them more. This increase affect the budget of companies decreasing their revenues.
ReplyDeleteIt is a very interesting article about minimum wage in the USA. I think that it is a good idea to increase a minimum wage. On the other hand, if to compare minimum age in the USA and minimum age in other countries it is obvious that USA have the highest one. Whatever the case may be it is clear that the best way in reforming the federal minimum wage in the USA is to index it to inflation.
ReplyDeleteThis is an interesting new! I really liked it! So, Colombia has a really low wage. However, it it works in a different way that american system. Colombia doesbt have an hourly wage but a monthly. It is like 290 dollars which is nothing,! I think some of the advantages are equallity and justijustice brcause everybody earns the same money. But its disadvantages can be the risebof the poverty status and war.
ReplyDeleteIt was an interesting article about the minimum wage. Colombia does have a minimum wage. I think is not enough money to survive in Colombia, to support a family. Its not fair that people kill their self working for 9 hours per day, they pay taxes, they make a lot of sacrifices to give a loaf of bread to their families, but the government dont care about them. its a shame that thye dont help the colombian families to have a better life style.
ReplyDeleteDoes your country have a minimum wage? What are the advantages and disadvantages of a national minimum wage?
ReplyDeleteMy country Uzbekistan has a minimum wage as well, but it is a monthly payment. Countries with the post Soviet Union syndrome calculate the employee payment on a monthly basis. People work more than 40 hours per week, about 200 hours per month. So, for that amount of work hours, the minimum wage is $200 per month.
The advantage of international minimum wage is that people can have the same income no matter where they came from, but on the other hand it would be unfair to the people who live in big cities and have to spend more money for example on the rent, gas, groceries than citizens from towns or villages, which is a disadvantage at the same time.