ManagementParadise.com : Worlds Leading Management Portal. MBA | Classroom, Boardroom and Beyond


Go Back   ManagementParadise.com Forums - Your MBA Online Degree Program and Management Students Forum for MBA,BMS, MMS, BMM, BBA, students & aspirants. > Management Students Voices ( MBA,BMS,MMS,BMM,BBA) > HOT Debates - The Big Fight

minimum wage laws

minimum wage laws

Discuss minimum wage laws within the HOT Debates - The Big Fight forums, part of the Management Students Voices ( MBA,BMS,MMS,BMM,BBA) category; In any market, whether it is the bond market, the commodities market, the houseing market, the labor market, or the ...

Reply

 

LinkBack Thread Tools Display Modes
Advertisements
minimum wage laws
Old
 (1 (permalink))
Dimpy Handa
dimpy.handa is on a distinguished road
 
dimpy.handa
Student of B.Com(H) at Delhi university
Delhi, Delhi
 
Institute: Delhi university
Status: Offline
Posts: 2,666
Join Date: Oct 2010
Location: Delhi, Delhi
minimum wage laws - July 6th, 2011

In any market, whether it is the bond market, the commodities market, the houseing market, the labor market, or the super market, the voluntary exchange between two individuals requires that each participant value the good, service, or medium of exchange of their trading partner higher than the good, service, or medium of exchange that they are oftering their trading partner. In otherwords, if I did not value what you are offering me higher than what I am offering you, no exchange would occur. However, if I value what you are offering to exchange higher than what I am offering to exchange, and if you value what I am offering to exchange higher than what you are offering to exchange, we can trade to our mutual benefit.

This rate of exchange that occurs when two individuals find mutual advantage to a voluntary exchange is the market rate.

In the labor market, their is a voluntary exchange rate that exists between the employer and the employee. The employer may value the labor of a particular individual at $5.00 per hour, whereas the laborer may value his labor at $4.50 per hour. This puts the market rate at anywhere between $4.50-$5.00 per hour. However, the minimum wage rate for any type of service that falls under the minimum wage law is $6.55 an hour. Despite the fact that this particular laborer values his time and effort at $4.50 an hour, to hire at that rate, the market rate, makes the employer a criminal because paying, that is, valuing labor at any amount lower than the minimum wage rate of $6.55 per hour is illegal.
Advertisements
Friends: (0)
Reply With Quote
#  
MBA
Your Friendly Helper
 
www.ManagementParadise.com
Rep Power: 10MBA Helper
Automatic Reply for links related to your post

Hello.

I am your friendly Helper. Check the related links below which might be of your interest.

Not a Member Yet ?? Sign Up Now. Click Here

Looking for something? Search the Forums

Need Help on your Research Report ? Ask for Help or Help Others and create your network. Give back to the community by sharing your knowledge in terms of notes, research reports, discussions, articles etc..

Help Yourself and Help Others


Advertisements

Related to minimum wage laws
 

Similar Threads

Thread Thread Starter Forum Replies Last Post
wage fixation and da Saleema N Human Resources Management 0 October 11th, 2010 11:28 PM
wage policy n structure... gauravgoel Resolve Your Query - Get Help and discuss Projects 6 June 4th, 2010 03:30 PM
Minimum Wage laurentandbenon Articles !! 0 June 6th, 2009 10:56 AM
wage and salary jag6039 Upload / Download Banking and Insurance Projects and Notes 0 May 31st, 2007 02:19 PM
Wage and Salary Administration Evol Tn Human Resources Management (H.R) 0 December 18th, 2006 05:50 PM
 
Re: minimum wage laws
Old
 (2 (permalink))
Dimpy Handa
dimpy.handa is on a distinguished road
 
dimpy.handa
Student of B.Com(H) at Delhi university
Delhi, Delhi
 
Institute: Delhi university
Status: Offline
Posts: 2,666
Join Date: Oct 2010
Location: Delhi, Delhi
Re: minimum wage laws - July 6th, 2011

Friends: (0)
Reply With Quote
Reply

Bookmarks

Tags
laws, minimum, wage

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Login
Forgot Password?  New User?
  

» Recent Threads

University Closed for...
Last post by Maya Raichura
10 Hours Ago 10:00 PM
0 Replies
Application Tips for...
Last post by Maya Raichura
10 Hours Ago 10:00 PM
0 Replies
Effective Ways to...
Last post by Maya Raichura
10 Hours Ago 10:00 PM
0 Replies
Marketing strategy...
Last post by Alicia Suji
11 Hours Ago 09:03 PM
0 Replies
What makes a good...
Last post by Alicia Suji
11 Hours Ago 08:47 PM
0 Replies
Motivational Video -...
Last post by Bhautik Kawa
13 Hours Ago 06:53 PM
0 Replies
Turkey keeps media...
Last post by Maya Raichura
13 Hours Ago 06:40 PM
0 Replies
Marketing Strategy of...
Last post by Alicia Suji
14 Hours Ago 05:35 PM
0 Replies
Marketing Strategy of...
Last post by Alicia Suji
14 Hours Ago 05:31 PM
0 Replies
Marketing Strategy of...
Last post by Shrusti Mathur
15 Hours Ago 05:27 PM
0 Replies
Marketing Strategy of...
Last post by Shrusti Mathur
15 Hours Ago 05:25 PM
0 Replies
Marketing Strategy of...
Last post by Shrusti Mathur
15 Hours Ago 05:24 PM
0 Replies
Marketing Strategy of...
Last post by Shrusti Mathur
15 Hours Ago 05:23 PM
0 Replies
Marketing Strategy of...
Last post by Shrusti Mathur
15 Hours Ago 05:21 PM
0 Replies
Marketing Strategy of...
Last post by Alicia Suji
15 Hours Ago 05:21 PM
0 Replies

» Ads





» Projects Helpline

No Threads to Display.
ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.


Management Paradise
About Us
Press
Jobs
Contact Us
Kartik Raichura
Legal
Terms & Conditions
Privacy Policy
Disclaimer
Copyrights
Help
Zeitgeist
Support
FAQs
Tour
Feedback
Partners
Follow
Copyright © 2004 - 2013 Management Paradise. Site Developed by Available.co.in