Current Theories Of The Minimum Wage Essay

Current Theories Of The Minimum Wage Essay

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The minimum wage is a topic that has been in the spotlight for many years. Still, there seems to be no progress as to when new policies will be implemented to address the concerns of the citizens. Fortunately, the country is able to function with the minimum current polices on the minimum wage; however, more people are dropping into lower societal levels. This could become problematic as time push forward and the cost of living continues to increase. Although, the current policies alone is not the main cause of the differentiating of social classes, but an increase in the minimum wage could definitely help some households.
Current theories
The current theories about the minimum wage cannot be easily addressed, because there are so many theories from various research. Therefore, a couple of theories relating to the minimum wage, is the impact of high youth unemployment rates and the number of families living in poverty. Campolieti et al (2014); Hoffman (2014); Konczal (2014) says that the main reason for the two aforementioned issues, is that a rise in the minimum wage will lead to job loss, thus increasing the unemployment rates. Unfortunately, the main social group that raise these concerns are the ones that employ minimum wage workers or they are pretty wealthy. Additionally, many social groups do not understand the reason for the poverty level being so high. Furthermore, families living in poverty have more health issues and of course, non-social behaviors (Smith, 2015). These two theories alone should send notice that there is a problem in the country with the current minimum wage levels.
The reason there is a problem with the minimum wage level, is because the United States is a country that is supposed to be...

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...ews, but then it fell to the bottom of the pile of papers sitting on someone’s desk, or in a shredder. Even though articles are written about various topics, it is never certain that anyone would find any interested in them.

The topic on the minimum wage has been an ongoing research by various authors, yet despite the numerous studies, policy makers is not in a hurry to dissolve the issue. Eventually, an increase in the minimum wage will the fan and then it will be a priority to fix the problem, but when that happens, it may just be too late. Furthermore, as much humanitarian aid being sent to other countries around the world, may be the citizen of the US should be more a priority. The idea is not to be selfish about helping others, but the logical path would be to keep the people close to you happy, because they’re the ones to cause the most problems.

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