How to write about minimum wage

How to write about minimum wage

The relevance of the “minimum wage” essay is connected with the fact that the phenomenon of minimum wage is regularly being discussed in the media. There is nothing fundamentally new in the perception of this concept. However, in the essay on minimum wage (and its sub-section) it is necessary to offer the reader a new approach, in order to finalize the understanding of the topic.

The, expert work of the Bolster Family, one of the leading advocates of the affordable housing, appears in the first sentences of the “How to manage the cost of living for the low-wage workers” essay. At first glance, it may seem that the author of such work has never heard of such a problem. However, it is not entirely true. The reasons for the emergence of such a concept are the gradual evolution of the perception of the issue of “minimum wage” in the public consciousness process.

The phenomenon of minimum wage is typical for the developed countries of the world. The minimum amount of wages found in each country of the developed countries of the world is usually no more than the average income of the middle class. But the perception of this parameter is quite variable. In the framework of orthodox Economics, the middle class is considered as the most economically developed part of society. So, in the United States, it is also worth mentioning that the middle class invests funds in real estate and liquid assets.

In the cultural context, the term “middle class” means a part of society that occupies the status positions between the top and bottom in the social hierarchy. Through its maintenance, widening and strengthening, the state can prevent high income inequality.

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In the economic context, the middle class is an independent social subject capable of effectively performing its traditional functions: investing funds in the national economy, playing the role of the main taxpayer, acting as a stabilizer of socio-political processes.

There is a generally accepted methodology that identifies several mandatory attributes of the population’s belonging to the middle class. It may be found in any good example of research paper about income inequality. The following aspects are of great importance:

  • firstly, the financial situation (including decent incomes, sufficient savings, adequate housing and other property);
  • secondly, the social and professional status (level of education, culture, kind of activity);
  • thirdly, self-identification (with which layer the person associates himself).
  • Another important feature of the middle class is its ability to invest in real estate, liquid assets.

    More specifically, you can provide the following criteria for identifying the middle class in wealth and income inequality essay:

  • level of income, well-being allowing to enjoy a modern way of life, high social standard;
  • relative stability of the economic status;
  • sustainable economic self-sufficiency;
  • ownership of property, presence of conditions which are absolutely necessary for its effective functioning at the modern level: knowledge and skills in the sphere of organization and management, high qualification, information;
  • activities in the field of science, culture which are recognized as particularly valuable for society and carried out on the basis of possessing unique creative abilities;
  • higher subjectivity in the labor market, in the choice of patterns of social behavior, etc. in comparison with lower groups on the social ladder;
  • the ability to influence the social process and its management more or less significantly: the middle class is one of the most important components of the social partnership system.
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    Persons with a higher value of indicators mentioned in this list belong to groups located above the middle class on the social ladder (the upper stratum, the elite).

    An important feature of the middle class is its quantitative scale. In any case, the share of the middle class in the population should be not less than the total share of those groups whose social status is somewhat below. The functioning of the middle class begins exactly from this quantitative threshold. Otherwise, it would be only one of the layers in the social structure of society.