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A minimum wage is the lowest remuneration that employers can legally pay their workers—the price floor below https://amazonia.fiocruz.br/scdp/essay/pathetic-fallacy-examples/environment-and-human-environment.php workers may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Supply and demand models suggest that there may be employment losses from minimum wages. Fof, if the labor market is in a state of monopsony with only one employer available who is hiringminimum wages can increase the efficiency of the market. There is debate about the full effects of minimum wages.

The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshopsby employers who were thought to have unfair bargaining power over them. Over time, minimum wages came to be seen as a way to help lower-income families. Modern national laws enforcing compulsory union membership which prescribed minimum wages for their members were first passed in New Zealand and Australia in the s. 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 povertyreduces inequality, and boosts morale. President Franklin D. Roosevelt[9] [10]. Modern minimum wage laws trace their origin to the Ordinance of Labourerswhich was a decree by King Edward III that set a maximum wage for laborers in medieval England.

Arghment In the autumn ofthe Black Plague reached England and decimated the population. Subsequent amendments to the ordinance, such as the Statute of Sourceincreased the penalties for paying a wage above the set rates. While the laws governing wages initially set a ceiling on compensation, they were eventually used to set a living wage. An amendment to the Statute of Labourers in effectively fixed wages to the price of food.

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As link passed, the Justice of the Peacewho was charged with setting the maximum wage, also began to set formal minimum wages. The practice was eventually formalized with the passage of the Act Fixing a Minimum Wage in by King James I for workers in the textile industry. By the early 19th century, the Statutes of Labourers was repealed as increasingly capitalistic England embraced laissez-faire policies which disfavored regulations of wages whether upper or lower limits.

As trade unions were decriminalized during the century, attempts to control wages through collective agreement were made.

Advocate for the innocent.

However, this meant that a uniform minimum wage was not possible. In Principles of Political Economy inJohn Stuart Mill argued that because of the collective action problems that workers faced in organisation, it was a justified departure from laissez-faire policies or freedom of contract to regulate people's wages and hours by the law. It was not until the s that the first modern legislative attempts to regulate minimum wages were seen in New Zealand and Australia. The sweatshop owners were thought to have unfair bargaining power over their employees, and a minimum wage was proposed as a means to make them pay fairly.

Over time, the focus changed to helping people, especially families, become more self-sufficient. However, at the same time, in the United States, the late 19th century ideas for favoring a minimum wage rather than wage subsidies coincided with the eugenist movement.

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As a consequence, many prominent Progressive economists at the time, including Royal MeekerHenry Rogers Seagerand Edward Cummingsargued for adoption of a minimum wage for the explicit purpose of supporting the "right" sort of semi- and unskilled laborers while forcing the "wrong" sort including immigrants, racial minorities, women, and the disabled out of the labor market and, over the longer term, impeding their ability to thrive and have families. The recognized visit web page of a minimum wage, a contraction in a firm's labor force and societal elimination of the "wrong" sort of people, was the specific stated outcome, with a view to applying it across the entirety of the American body politic.

The first modern national minimum wages were enacted by the government recognition of unions which in An Argument For An Case Of Minimal established minimum wage policy among their members, as in New Zealand infollowed by Australia in and the United Kingdom in ]