Minimum wage Article Example | Topics and Well Written Essays - 750 words

Minimum wage - Article Example If the growth in minimum wages had been at par with the growth in average Wages, minimum wages in America would have been $10.50 today. Moreover, if they had been concurrent with ‘productivity,’ then the minimum wages should have been $18.75 and if it had grown at the same rate as the upper 1% wage paid to workers, the minimum wage would have been $28 per hour today. (Cooper and Hall) There are many returns associated with increasing the minimum wages. Firstly, contrary to many who believe that increasing minimum wages creates unemployment in the economy, it actually creates more employment. Secondly, an increase in minimum wages would give more money in the hands of the workers, which would mean extra spending in the economy. According to the economic analysis done by Cooper & Hall (2013), they say that a â€Å"$115,000 increase in economic activity results in the creation of one new full-time-equivalent job in the current economy.† (Cooper and Hall). Considering this analysis, they conclude that an increase in minimum wage from the current levels to $10.10 an hour would result in extra employment opportunities of about 140,000 new workers. However, Jacob Mincer (1974) believed that there was no real evidence to suggest that an increase in minimum wages would lead to unemployment or create employment. (Mincer). Currently, for each job opportunity in the US, there is an unemployment of approximately 3.4 (Shierholz cited by Cooper and Hall). This is because the employers do not have to offer the adequate wages to employ a worker, nor do they have to increase wages to retain the worker. Cooper and Hall quote American Enterprise Institute scholar Desmond Lachman, a former managing director at Salomon Smith Barney, as told to The New York Times, â€Å"Corporations are taking huge advantage of the slack in the labour market—they are in a very strong position and workers are in a very weak position.

Describing a depth experience Essay Example | Topics and Well Written Essays - 1000 words

Describing a depth experience - Essay Example . . 1 For those of who still maintain religious belief in these troubled times, this formulation sounds very familiar. It is far too easy to lose ourselves in the material world and forget that there is something more out there—something that means more than what we can see around us. Accordingly, in this essay, I will try to describe my own experience with â€Å"depth.† When I was around sixteen years old, I was very troubled. I had many doubts about myself and about the world in general. I was confused and somewhat unhappy. I had lots of friends and played many sports, but nevertheless I was sometimes left at a loss as to how to explain the world to myself. Some days everything would just seem to be too much for me, and I would go to a quiet place to be alone and think about things. One spring my family and I took a vacation to the island of Malta. Malta is a small island in the Mediterranean near Sicily. It is only about 300 square kilometres in size but there are many people living there. The island is very historic, with many old churches and a deep and abiding faith in Catholicism. When I first arrived in Malta, I didn’t like it very much. It seemed too cramped and small. Although the weather was sunny and warm, the food was not very good and many of the cars and buildings seemed old and decrepit. So I had gone to Malta with a closed-mind and it was hard for me to appreciate it. One day, when I was walking by myself on a beach, I stopped to buy a soda from an old man who was selling drinks near the water. He must have been in his eighties; the skin on his face looked like battered leather. As I was paying for the soda, the man asked me, â€Å"Tell me, son, why do you look so lonely and lost.† I was a bit taken aback. I told him I was just walking along the beach for fresh air. He said, â€Å"Have you come to Malta on a pilgrimage? Did you know this is a very holy place? Many famous men have come to his island to discover something about themselves.