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The Minimum Wage

2019-06-04 来源: 51due教员组 类别: Paper范文

下面为大家整理一篇优秀的paper代写范文- The Minimum Wage,供大家参考学习,这篇论文讨论了最低工资。根据需求和供给模型,在一个情况下,如果劳动需求完全无弹性,需求曲线是垂直显示最低工资高于均衡水平时,劳动需求数量不变,而劳动力供给数量增加导致劳动力过剩。在第二种情况下,当劳动力需求是弹性的,最低工资是有约束力的,提高最低工资会导致盈余,这意味着劳动力需求减少,而劳动力盈余增加。换句话说,失业率可能会上升。两者唯一的区别在于前者的劳动力需求是不变的,而后者的劳动力需求减少,从而导致了劳动力过剩。

Minimum Wage,最低工资,essay代写,paper代写,作业代写

According the demand and supply model, in case one, if the labor demand is perfectly inelastic, the demand curve is vertical which indicates when minimum wage is above the equilibrium level, the labor demand quantity remains the same while the labor supply quantity increases leading to a labor surplus as well. In case two, when labor demand is elastic and the minimum wage is binding, raising the minimum wage causes a surplus which means labor demand decreases while labor surplus increases. In other word, the unemployment rate may augment. The only difference between the two cases is that the labor demand is constant in the former while the labor demand reduces in the second case which widens the labor surplus.

Classically, minimum wage rise leads to increase in unemployment especially in South Korea. The vast majority of people of the country on the minimum wage work at smaller businesses. With the rising of the minimum wage, the cost of production increase which causes the small businesses to cut staff inevitably leading part of the low income earners to lose their jobs. What is worse, raising minimum wage may discourage companies from creating permanent jobs which can provide more secure and protection. Based on our assumption that minimum wage mostly influence low income people and they intend to spend more when their income rises, the total gain of the low income ones increases and the overall consumption level rises when the minimum wage rises.

It is hard to say whether the minimum wage increase will boost economic growth in South Korea. On one and, rise in consumption level will lighten the burden of its export which is uncertain under the complex world outside. Growth can continue with both production and consumption increasing. On the other hand, considering South Korea so heavily depends on its export, the augment of price of its export product will decreases the amount of export which may have a crucial impact on the economy of South Korea. The deduction of export will cause bankruptcy of businesses and increase of unemployment which will definitely harm the basis of the economy. However, at some extent South Korea moves in the minimum wage so aggressively by 16.4% increase set for 2019 and a total rise of 55% by 2020 compared with many other high-income countries, it may be not enough appropriate to take such a radical economic reform.

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