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Minimum-wage
A minimum wage is the lowest remuneration that employers can legally pay their employees—the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. The movement for minimum wages was first motivated as a way to stop the exploitation of workers in sweatshops, by 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 in 1894. Although minimum wage laws are now in effect in many jurisdictions, differences of opinion exist about the benefit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Minimum Wage
This is a list of the official minimum wage rates of the 193 United Nations member states and former members of the United Nations, also including the following territories and states with limited recognition (Northern Cyprus, Kosovo, etc.) and other independent countries. Some countries may have a very complicated minimum wage system; for example, India has more than 1202 minimum wage rates for different types of industries and skill levels. Meanwhile, other countries may have a national rate which often is superseded by state, provincial, cantonal, county and city minimum wage rates. For example, 33 states in the United States have higher minimum wages than the federal rate (plus military rates on federal bases) – on top of this an additional 42 city-level subdivisions having different minimum wage rates and 53 countries. In effect, the United States has over 100 different minimum wages across the nation. This is common in federal nations as Canada, and minimum wage in China ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minimum Wage Law
Minimum wage law is the body of law which prohibits employers from hiring employees or workers for less than a given hourly, daily or monthly minimum wage. More than 90% of all countries have some kind of minimum wage legislation. History Until recently, minimum wage laws were usually very tightly focused. In the US and Great Britain, for example, they applied only to women and children. Only after the Great Depression did many industrialized economies extend them to the general work force. Even then, the laws were often specific to certain industries. In France, for example, they were extensions of existing trade union legislation. In the US, industry specific wage restrictions were held to be unconstitutional. The country's Fair Labor Standards Act of 1938 established a uniform national minimum wage for nonfarm, nonsupervisory workers. Coverage was later extended to most of the labor force. * In 1894, New Zealand established such arbitration boards with the Industrial Con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Living Wage
A living wage is defined as the minimum income necessary for a worker to meet their basic needs. This is not the same as a subsistence wage, which refers to a biological minimum, or a solidarity wage, which refers to a minimum wage tracking labor productivity. Needs are defined to include food, housing, and other essential needs such as clothing. The goal of a living wage is to allow a worker to afford a basic but decent standard of living through employment without government subsidies. Due to the flexible nature of the term "needs", there is not one universally accepted measure of what a living wage is and as such it varies by location and household type. A related concept is that of a family wage – one sufficient to not only support oneself, but also to raise a family. The living wage differs from the minimum wage in that the latter can fail to meet the requirements for a basic quality of life which leaves the worker to rely on government programs for additional income. Livi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sweatshop
A sweatshop or sweat factory is a crowded workplace with very poor, socially unacceptable or illegal working conditions. Some illegal working conditions include poor ventilation, little to no breaks, inadequate work space, insufficient lighting, or uncomfortably/dangerously high or low temperatures. The work may be difficult, tiresome, dangerous, climatically challenging or underpaid. Workers in sweatshops may work long hours with unfair wages, regardless of laws mandating overtime pay or a minimum wage; child labor laws may also be violated. Women make up 85 to 90% of sweatshop workers and may be forced by employers to take birth control and routine pregnancy tests to avoid supporting maternity leave or providing health benefits. The Fair Labor Association's "2006 Annual Public Report" inspected factories for FLA compliance in 18 countries including Bangladesh, El Salvador, Colombia, Guatemala, Malaysia, Thailand, Tunisia, Turkey, China, India, Vietnam, Honduras, Indonesia, Brazil, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maximum Wage
A maximum wage, also often called a wage ceiling, is a legal limit on how much income an individual can earn. It is a prescribed limitation which can be used to effect change in an economic structure, but its effects are unrelated to those of minimum wage laws used currently by some states to enforce minimum earnings. Implementation No major economy has a direct earnings limit, though some economies do incorporate the policy of highly progressive tax structures in the form of scaled taxation. A vote to implement a maximum wage law in Switzerland failed with only a 34.7% vote for approval. Maximum liquid wealth A ''maximum liquid wealth'' policy restricts the amount of liquid wealth an individual is permitted to maintain, while giving them unrestricted access to non-liquid assets. That is to say, an individual may earn as much as they like during a given time period, but all earnings must be re-invested (spent) within an equivalent time period; all earnings not re-invested with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopsony
In economics, a monopsony is a market structure in which a single buyer substantially controls the market as the major purchaser of goods and services offered by many would-be sellers. The microeconomic theory of monopsony assumes a single entity to have market power over all sellers as the only purchaser of a good or service. This is a similar power to that of a monopolist, which can influence the price for its buyers in a monopoly, where multiple buyers have only one seller of a good or service available to purchase from. History Monopsony theory was developed by economist Joan Robinson in her book ''The Economics of Imperfect Competition'' (1933). Economists use the term "monopsony power" in a manner similar to "monopoly power", as a shorthand reference for a scenario in which there is one dominant power in the buying relationship, so that power is able to set prices to maximize profits not subject to competitive constraints. Monopsony power exists when one buyer faces little ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward III Of England
Edward III (13 November 1312 – 21 June 1377), also known as Edward of Windsor before his accession, was King of England and Lord of Ireland from January 1327 until his death in 1377. He is noted for his military success and for restoring royal authority after the disastrous and unorthodox reign of his father, Edward II. EdwardIII transformed the Kingdom of England into one of the most formidable military powers in Europe. His fifty-year reign was one of the longest in English history, and saw vital developments in legislation and government, in particular the evolution of the English Parliament, as well as the ravages of the Black Death. He outlived his eldest son, Edward the Black Prince, and the throne passed to his grandson, Richard II. Edward was crowned at age fourteen after his father was deposed by his mother, Isabella of France, and her lover Roger Mortimer. At age seventeen he led a successful coup d'état against Mortimer, the ''de facto'' ruler of the coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medieval England
England in the Middle Ages concerns the history of England during the medieval period, from the end of the 5th century through to the start of the Early Modern period in 1485. When England emerged from the collapse of the Roman Empire, the economy was in tatters and many of the towns abandoned. After several centuries of Germanic immigration, new identities and cultures began to emerge, developing into kingdoms that competed for power. A rich artistic culture flourished under the Anglo-Saxons, producing epic poems such as ''Beowulf'' and sophisticated metalwork. The Anglo-Saxons converted to Christianity in the 7th century and a network of monasteries and convents were built across England. In the 8th and 9th centuries England faced fierce Viking attacks, and the fighting lasted for many decades, eventually establishing Wessex as the most powerful kingdom and promoting the growth of an English identity. Despite repeated crises of succession and a Danish seizure of power at the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Serfs
Serfdom was the status of many peasants under feudalism, specifically relating to manorialism, and similar systems. It was a condition of debt bondage and indentured servitude with similarities to and differences from slavery, which developed during the Late Antiquity and Early Middle Ages in Europe and lasted in some countries until the mid-19th century. Unlike slaves, serfs could not be bought, sold, or traded individually though they could, depending on the area, be sold together with land. The kholops in Russia, by contrast, could be traded like regular slaves, could be abused with no rights over their own bodies, could not leave the land they were bound to, and could marry only with their lord's permission. Serfs who occupied a plot of land were required to work for the lord of the manor who owned that land. In return, they were entitled to protection, justice, and the right to cultivate certain fields within the manor to maintain their own subsistence. Serfs were often r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
OECD
The Organisation for Economic Co-operation and Development (OECD; french: Organisation de coopération et de développement économiques, ''OCDE'') is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum whose member countries describe themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices, and coordinate domestic and international policies of its members. The majority of OECD members are high-income economies with a very high Human Development Index (HDI), and are regarded as developed countries. Their collective population is 1.38 billion. , the OECD member countries collectively comprised 62.2% of global nominal GDP (US$49.6 trillion) and 42.8% of global GDP ( Int$54.2 trillion) at purchasing power parity. The OECD is an official United Nations observer. In April 1948, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Plague
The Black Death (also known as the Pestilence, the Great Mortality or the Plague) was a bubonic plague pandemic occurring in Western Eurasia and North Africa from 1346 to 1353. It is the most fatal pandemic recorded in human history, causing the deaths of people, peaking in Europe from 1347 to 1351. Bubonic plague is caused by the bacterium ''Yersinia pestis'' spread by fleas, but it can also take a secondary form where it is spread by person-to-person contact via aerosols causing septicaemic or pneumonic plagues. The Black Death was the beginning of the second plague pandemic. The plague created religious, social and economic upheavals, with profound effects on the course of European history. The origin of the Black Death is disputed. The pandemic originated either in Central Asia or East Asia before spreading to Crimea with the Golden Horde army of Jani Beg as he was besieging the Genoese trading port of Kaffa in Crimea (1347). From Crimea, it was most likely carried ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Commons Of The United Kingdom
The House of Commons is the lower house of the Parliament of the United Kingdom. Like the upper house, the House of Lords, it meets in the Palace of Westminster in London, England. The House of Commons is an elected body consisting of 650 members known as members of Parliament (MPs). MPs are elected to represent constituencies by the first-past-the-post system and hold their seats until Parliament is dissolved. The House of Commons of England started to evolve in the 13th and 14th centuries. In 1707 it became the House of Commons of Great Britain after the political union with Scotland, and from 1800 it also became the House of Commons for Ireland after the political union of Great Britain and Ireland. In 1922, the body became the House of Commons of the United Kingdom of Great Britain and Northern Ireland after the independence of the Irish Free State. Under the Parliament Acts 1911 and 1949, the Lords' power to reject legislation was reduced to a delaying power. The g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
