Step 1: Prepare a shortened version of your assignment (at least four pages) by including the following:
Introduction paragraph and thesis statement you developed for your Week 3 Assignment.
Background information of the global societal issue you have chosen.
Brief argument supporting at least two solutions to the global societal issue.
Must document any information used from at least five scholarly sources in APA style as outlined in the
Pollin, R., & Wicks-Lim, J. (2015). A $15 US Minimum Wage: How the Fast-Food Industry Could Adjust Without Shedding Jobs.
This article focuses on the current controversy around a “$15 minimum wage” and the ramifications that this argument may have for the fast-food industry. According to the findings of the study, businesses can adapt and stay afloat without having to reduce their workforce by implementing pay raises that are both stable and rise steadily each year. The study also uncovered several different ways for businesses to take care of their expenditures without having to dramatically diminish their overall profitability as a result. This issue is quite important, and the argument that it raises is now the subject of a lot of other studies since it involves a lot of different aspects of the possible adverse effects of raising the minimum wage. A study was conducted on the quick service restaurant industry, and the results of that survey served as the foundation for the experiments. This is since the fast-food industry is responsible for almost all first employment in the economy. Since a consequence of this, the argument and analysis presented here are fascinating, as they concentrate on the findings of a recent study rather than theory.
U.S. Department of Labor. (2015)Minimum Wage MythBusters. – U.S. Department of Labor. Web. 7 September 2017.
This online article or report was published on the website of the United States Department of Labor. The findings of this research contain not only a list of possible salary increase misconceptions but also explanations of why these beliefs are incorrect. The paper tackles several common concerns, including the effect that increasing the minimum wage would have on smaller enterprises, as opposed to major corporations such as McDonald’s. The most surprising statistic is the fact that three out of every five owners of small businesses support increasing the minimum wage to $10.10 per hour. There is a widespread consensus that this will be helpful, particularly given that it will increase the buying power of customers. In addition to that, 600 economists have signed a declaration in favor of the hike in the minimum wage that was previously indicated. Because it is based on research that was carried out by a government agency, this is an authoritative source. That agency is the United States Department of Labor.
Lipton, Eric. “Fight Over Minimum Wage Illustrates Web of Industry Ties.” The New York Times. O7 September 2017. Web.
This piece of writing, which can be obtained on the internet, was written with the intention of informing people about the discussion around the increase of the minimum wage. This article demonstrates how groups that hold both conservative and liberal viewpoints have been working relentlessly to lobby for the opportunity to increase the minimum wage. The groups are lending their support to lobbying efforts led by business lobbyists as well as labor unions in the expectation that the United States of America would take their issues into consideration. The article also provides information on a dispute over whether an increase in the minimum wage to forty percent per hour over a period of two and a half years will result in a decrease in the rate of poverty or an increase in the rate of poverty. Following this, Lipston presents comments and opinions on the issue of increasing the minimum wage from members of Congress as well as staff members of the Employment Policies Institute. Because of this, this is an outstanding and credible piece of data that supports increasing the minimum wage.
Hall, D., and D. Cooper (2012). Why increasing the minimum wage at the federal level would be beneficial to working families and beneficial to the economy? Issue Brief No. 341 from the Economic Policy Institute
This article examines the impact that raising the minimum wage might have in several different regions throughout the United States. The “Rebuild America Act” was introduced in the state of Iowa in 2012 with the intention of increasing both the standard minimum wage and the “tipped minimum wage” to $9.80 per hour. According to the author, this will be to the advantage of American employees, many of whom are still suffering the aftereffects of the crisis. If the minimum wage is raised, then workers will have more money in their paychecks to spend. This activity has the impact of supporting economic development because of its stimulating influence on the economy, which eventually leads to growth. According to the graphs in the article, the number of individuals and households that are adversely affected by the present level of the minimum wage continues to increase on an annual basis. It is assumed that if the wages of low-wage workers were increased, those workers would be more likely to spend their money if they had more of it. Because of this, a model of the economy would be run, which would lead to increased prosperity.
Lowrey, Anna. “Increasing the Minimum Wage Would Help Close the Income Gap, but It Would Bring About Political Risks.” Monday, September 7, 2017, The New York Times. Web.
This article, which was written for the public and pulled from many locations on the internet, was compiled with the intention of addressing economic inequalities in regard to the minimum wage. The article includes quotations from the White House, President Barack Obama, and House Speaker John A. Boehner, all of whom are in agreement that boosting the minimum wage would be beneficial to low-income families while neither burdening corporation or increasing unemployment rates. Lowrey presents statistics from the White House which imply that a raise in the minimum wage of ten to twenty percent will roughly equalize the rise in income gap that has occurred since 1980. In addition, the story included a remark from President Obama in which he said that increasing the minimum wage would lead to an increase in the earnings of many working families. Because of this, consumers will have even more cash available to spend, which is good news for businesses. Because of this, this is a trustworthy source of information about the increase in the minimum wage. The expression of the thesis is that increasing the minimum wage is beneficial to individuals with low incomes, families, and businesses. It also stimulates the economy by increasing spending, which ultimately leads to growth.
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