Repealing the Minimum Wage – Need to Know More

Just like action and the system, the liberals have distorted the premise of the minimum wage beyond recognition. Many are misinformed that the minimum wage is a hindrance to business development and a healthy market. Many assert that they minimum wage is the poor fighting chance and many more would fall prey. Everyone can see that this is not really the case. Supporters of periodic and constant increases in the minimum wage are the liberal associations and unions that both claim it will benefit the growing number of working poor of the nation.Weargue that the number of working poor is credited to high minimum wage amounts. Equilibrium will form if we allow supply and demand fundamentals dictate the job market. The supply and demand model efficiently predicts that in a competitive market, such as the job market, costs and in this case salary, will function to equalize the amount demanded by people needing work and people needing to fill a project, leading to an economic equilibrium of quantity and price and in this instance, the allowable wage for the specified service.

Minimum Wage

This is for representation purposes because in all actuality, no buyer or seller and obviously a simplistic illustration or in this case, job candidate and job opening, have effect of cost or salary. It is a system that is complete and works with competition bombarded with demand and supply to make the equilibrium. The balance is the intersection of customer demand and the supply that is available quantity supplied equals quantity demanded and in this case equals an unemployment level of zero. The cost of service and a good orwages are determined by the source of jobs, along with the requirement for these jobs and related to.

As Stated the minimum wage is a classic case of a good intention gone. The best of intentions never get off the floor andit is precisely the case. The assumption of this minimum wage is that business owners will never increase their employees’ wages soit is up to the government to control wages for them. In the end, the government knows more than anybody what everybody deserves to be compensated. This runs contrary to the most fundamental of principles that are economic andit is wrong for everybody, not only the business owners who cannot manage the hikes in wages and know more by clicking here The reality is the people the minimum wage was intended for are the ones that it hurts the most the minorities, the poor and the youths. If there is a teenager prepared to flip burgers for sub-par cover and the restaurant is ready to pay, who’s the government to prevent this. We are supposed to be living in a society where we are free pay and to operate intervening in that procedure.