- published: 06 May 2016
- views: 46382
A minimum wage is the lowest remuneration that employers may legally pay to workers. Equivalently, it is the price floor below which workers may not sell their labor. Although minimum wage laws are in effect in many jurisdictions, differences of opinion exist about the benefits and drawbacks of a minimum wage. Supporters of the minimum wage say it increases the standard of living of workers, reduces poverty, reduces inequality, boosts morale and forces businesses to be more efficient. In contrast, opponents of the minimum wage say it increases poverty, increases unemployment (particularly among unskilled or inexperienced workers) and is damaging to businesses.
"It is a serious national evil that any class of His Majesty's subjects should receive less than a living wage in return for their utmost exertions. It was formerly supposed that the working of the laws of supply and demand would naturally regulate or eliminate that evil [...and...] ultimately produce a fair price. Where... you have a powerful organisation on both sides... there you have a healthy bargaining.... But where you have what we call sweated trades, you have no organisation, no parity of bargaining, the good employer is undercut by the bad, and the bad employer is undercut by the worst.... where those conditions prevail you have not a condition of progress, but a condition of progressive degeneration."
As the $15 minimum wage is implemented in a handful of American cities and two states (NY and CA), how might it affect businesses and their employees? Subscribe to FORBES: http://www.youtube.com/forbes Check out our full video catalog: http://www.youtube.com/user/forbes/videos Follow FORBES VIDEO on Twitter: http://www.twitter.com/forbesvideo Follow FORBES VIDEO on Instagram: http://instagram.com/forbesvideo Like FORBES on Facebook: http://fb.com/forbes For more FORBES content: http://forbes.com
How much should you get paid for your job? Well, that depends on a lot of factors. Your skill set, the demand for the skills you have, and what other people are getting paid around you all factor in. In a lot of ways, labor markets work on supply and demand, just like many of the markets we talk about in Crash Course Econ. But, again, there aren't a lot of pure, true markets in the world. There are all kinds of oddities and regulations that change the way labor markets work. One common (and kind of controversial one) is the minimum wage. The minimum wage has potential upsides and downsides, and we'll take a look at the various arguments for an against it. Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse Thanks to the following Pa...
My names is Jacob Clifford and I'm an economics teacher and all around swell guy. With the ongoing debate over increasing the minimum wage I decided to make a video to clarify common misunderstandings. You should share this video with your friends; especially that one that doesn’t understand economics and never researches things, yet still has very strong opinions. My goals was to inform, not tell you how to vote. Feel free to comment and let me know what you think about the minimum wage. Is the best thing ever or a total sham.The links to the websites and studies I mentioned are below. BLS- Characteristics of Minimum Wage Workers (2014) http://www.bls.gov/cps/minwage2013.pdf Congressional Budget Office- The Effects of a Minimum-Wage Increase on Employment and Family Income (2014) http...
Washington state has the highest minimum wage in the nation at $9.32. Can the state's low-wage workers can meet their basic needs without assistance? Economics correspondent Paul Solman explores the quality of life for a baggage handler at the Seattle-Tacoma Airport and an employee of McDonald's.
To many, raising the minimum wage seems like a no-brainer. If the poorest workers can simply make more money per hour, they’ll be lifted out of poverty, right? But would supporters change their minds if drastic wage hikes resulted in some nasty unintended consequences, both for the poor and for others? California's governor Jerry Brown signed a bill raising the state's wage to $15 an hour, despite admitting that, from an economic standpoint, such a hike "may not make sense." Fifteen dollars an hour is a wage that Democratic presidential candidates Hillary Clinton and Bernie Sanders have each advocated for as a federal minimum, even though a CBO report estimated that even President Obama's more modest proposed hike to $10.10 an hour would result in about 500,000 American jobs lost. R...
Economics: Is raising minimum wage to $15 a bad idea? Professor Don Boudreaux explains why raising minimum wage actually hurts the economy instead of improving an employee's chances of maintaining and getting a job. Learn more: http://www.learnliberty.org/ Join us for LIVE discussions of the minimum wage debate Friday, January 15th at 1:30PM (EST) and Tuesday, January 19th at 2:30PM (EST) on Periscope: https://www.periscope.tv/LearnLiberty SUBSCRIBE: http://bit.ly/1HVAtKP FOLLOW US: - Website: https://www.learnliberty.org/ - Facebook: https://www.facebook.com/LearnLiberty - Twitter: https://twitter.com/LearnLiberty - Google +: http://bit.ly/1hi66Zz LEARN MORE: Social Justice: Capitalism & Exploitation (program): Join Learn Liberty’s On Demand program to explore arguments for social j...
Seattle has voted to boost its minimum wage to $15 an hour over time. The first increase takes the minimum wage to $11 an hour. But is that enough to live on in this expensive city? We profile a young barista, a temporary worker and a grocery store clerk to drill down into what it takes to stretch minimum wage to a living wage, especially with housing taking such a big chunk out of the budget. We also interview a UW professor who has created an alternative to the federal minimum wage that is more realistic and the head of a company that has already boosted its minimum wage to $15. IN Close airs Thursdays at 7pm on KCTS 9. ___________________________ Connect with IN Close: Visit the IN Close webpage: http://KCTS9.org/in-close Like IN Close on Facebook: https://www.facebook.com/KCTS9INClo...
Brian Lilley reports that several provinces are set to raise the minimum wage to $15 to help the working poor but Brian explains why this never works quite the way politicians often promise. MORE: http://www.therebel.media/4_reasons_why_raising_minimum_wage_hurts_the_poor http://www.Facebook.com/JoinTheRebel *** http://www.Twitter.com/TheRebelTV
In which John discusses the minimum wage, and whether raising the minimum wage would negatively affect employment in the United States. Thanks to Rosianna for graphics and research help: http://www.youtube.com/missxrojas About Card and Kreuger's famous study of New Jersey and Pennsylvania: http://en.wikipedia.org/wiki/Minimum_wage#Card_and_Krueger Why Does the Minimum Wage Have No Discernible Effect on Employment? http://www.cepr.net/documents/publications/min-wage-2013-02.pdf Do higher minimum wages reduce poverty? http://www.washingtonpost.com/blogs/wonkblog/wp/2014/01/04/economists-agree-raising-the-minimum-wage-reduces-poverty/ A Washington Post overview of the minimum wage debate: http://www.washingtonpost.com/blogs/the-fix/wp/2013/02/13/the-minimum-wage-fight-explained/
See who raised the minimum wage and when throughout history. SUBSCRIBE to TIME's YouTube channel: http://www.youtube.com/user/timemagazine?sub_confirmation=1 For the latest TIME video: http://content.time.com/time/video/ Facebook: https://www.facebook.com/time Twitter: https://twitter.com/TIME G+: https://plus.google.com/+TIME Instagram: http://instagram.com/time
welcome to The News - HQ please subscribe In his weekly address, President Obama touted wage growth during his presidency and urged Congress to put politics aside to strengthen the middle class. "Lower and middle income families saw the biggest boost in incomes - in part because 18 states and the District, as well as more than 50 communities, have given millions of Americans a raise by raising the minimum wage," Obama said. He also urged Congress to pass laws that would make childcare affordable and increase the federal minimum wage.
1791L - Your source for common sense political discourse. » Full debate here https://www.youtube.com/watch?v=xfLx6XMdCiY ✖ Follow Ben Shapiro on Twitter https://twitter.com/benshapiro ✖ Follow 1791L on Twitter https://twitter.com/1791Flores
1791L - Your source for common sense political discourse. » Full debate here https://www.youtube.com/watch?v=xfLx6XMdCiY ✖ Follow Ben Shapiro on Twitter https://twitter.com/benshapiro ✖ Follow 1791L on Twitter https://twitter.com/1791Flores
Transcript: Hi, everybody. Eight years ago, we were in the early stages of what would become the worst economic crisis of our lifetimes. It was a scary time. We didn’t even know where the bottom would be. But thanks to your hard work and determination, and some smart decisions we made, today’s a different story. We turned a recession into a record streak of job growth, creating more than 15 million new private-sector jobs and cutting the unemployment rate in half. Getting wages to rise again was a harder task. Even before the recession, working Americans faced decades of slow wage growth. Between 1980 and 2007, real wages barely grew each year. But because the policies we’ve put in place are working, working families are finally seeing their wages and incomes rise, too. Since 2012, wages...
Our website: https://goo.gl/KBDBuR?75749
More info: https://goo.gl/1CQZhD?58741
Glory of Heracles 2: Titan's Downfall - (NES - Nintendo Entertainment System) ヘラクレスの栄光Ⅱ タイタンの滅亡 (ファミコン) I spent way too long thinking this game was about Hercules. In this video I come to the realisation that story-heavy JRPGs may not be the best genre for this channels video time-limited format T_T. Psychewave Gaming: https://www.youtube.com/psychewave In this video series I only play games for the amount of time it would take someone on minimum wage to earn them. Check them out in this playlist: https://www.youtube.com/watch?v=P8MFWEJRciI&list;=PLgh054I7EBdF247HULB2x8u5YWgh5l9OD Game Cost: 100 yen Play Time: 6:10 Developer: Data East Wiki: https://en.wikipedia.org/wiki/Glory_of_Heracles_(series) Intro music: Root by Silent Partner Twitter: http://twitter.com/jikyuugamer Twitch: h...
In the third episode of Hard Earned, we join Emilia Stancati, a 50-year-old who has worked as a waitress for most of her life, as she searches for a better-paying job. A surprise on the housing front leads clerical worker and Iraq war veteran Jose Merino to think about his future with his girlfriend Elizabeth Bonta in a new light. We follow them as Jose and 27-year-old high school counselor Elizabeth prepare for marriage. After spending more than anticipated on Elizabeth's engagement ring, they are not sure if they can afford a wedding reception. As we follow our characters' hardship and occasional good fortune in Hard Earned, we see how these couples and families are proud and determined to make it on their own to secure a better more stable future.
The first attempt at establishing a national minimum wage, a part of 1933's sweeping National Industrial Recovery Act, was struck down by the Supreme Court in 1935. But in 1938, under the Fair Labor Standards Act, President Franklin D. Roosevelt signed into law a minimum hourly wage of 25 cents—$4.07 in today's dollars. Three-quarters of a century later, we are still debating the merits of this cornerstone of the New Deal. Do we need government to ensure a decent paycheck, or would low-wage workers and the economy be better off without its intervention? For: James A. Dorn For: Russell Roberts Against: James Bernstein Against: Karen Kornbluh Like on us Facebook: http://bit.ly/IQ2onFacebook Tweet at us: http://bit.ly/IQ2Twitter Subscribe to us: http://bit.ly/IQ2onYouTube
Should there be a minimum wage? Stefan Molyneux answers the question with an epic rant! Freedomain Radio is 100% funded by viewers like you. Please support the show by signing up for a monthly subscription or making a one time donation at: http://www.fdrurl.com/donate Bitcoin Address: 1Fd8RuZqJNG4v56rPD1v6rgYptwnHeJRWs Litecoin Address: LL76SbNek3dT8bv2APZNhWgNv3nHEzAgKT Get more from Stefan Molyneux and Freedomain Radio including books, podcasts and other info at: http://www.freedomainradio.com Amazon US Affiliate Link: www.fdrurl.com/AmazonUS Amazon Canada Affiliate Link: www.fdrurl.com/AmazonCanada Amazon UK Affiliate Link: www.fdrurl.com/AmazonUK Freedomain Radio Facebook: http://www.fdrurl.com/fb Freedomain Radio Twitter: https://twitter.com/freedomainradio Freedomain Radio Goog...
Rossmann Repair Group Inc is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to https://www.amazon.com/?&_encoding=UTF8&tag;=rossmanngroup-20&linkCode;=ur2&linkId;=c2e37574e4c248fba4d20bb23d7f275e&camp;=1789&creative;=9325 Need help? Check out our forum at http://www.rossmanngroup.com/boards where we answer Macbook logic board repair questions for $29/mo. Local to NYC? Come to our store! We offer free estimates on all Macbook problems. http://www.rossmanngroup.com/board-repair/ Outside New York? We can service you even if you live outside of NYC. https://mailin.repair/macbook-logic-board-repair.html Are you a business looking to outsource board repairs? Ope...
AM 770 KTTH personality Ben Shapiro and Seattle City Councilwoman Kshama Sawant, along with others, engaged in a civil, substantive debate about the proposed $15 minimu wage issue in front of a sold-out crowd at The Marion Oliver McCaw Hall in Seattle, Wash. on Wednesday, April 9, 2014. AM 770 KTTH morning host David Boze served as moderator for this debate.
AM 770 KTTH radio host Ben Shapiro and Seattle City Councilwoman Kshama Sawant, along with others, engaged in a civil discussion about the $15 minimum wage proposal at the Nesholm Family Lecture Hall at The Marion Oliver McCaw Hall in Seattle, Wash. on Wednesday, April 9, 2014.
The Peter Schiff Show Podcast - Episode 78 http://www.USTaxFreeZone.com SIGN UP FOR MY FREE NEWSLETTER: http://www.europac.net/subscribe_free_reports
Dr. Walter Block and Dr. Boyd Blundell debate the minimum wage.
California has passed a law that will raise the state's minimum wage to $15/hr by 2022. Does this law make economic sense? Is it a sound policy in pursuit of social justice? Don Boudreaux, Professor of Economics at George Mason University, and Mike Konczal, fellow at the Roosevelt Institute debate the issue at an event sponsored by the University of San Diego's Center for Ethics, Economics, and Public Policy.
Minimum Wage!