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Minimum Pay
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 ben ... [...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] |
Trade Boards Bill
The Trade Boards Act 1909 was a piece of social legislation passed in the United Kingdom in 1909. It provided for the creation of boards which could set minimum wage criteria that were legally enforceable. It was expanded and updated in the Trade Boards Act 1918. The main provision was to set minimum wages in certain trades with historically low wages, often due to a surplus of available workers due to the widespread employment of workers or lack of skills needed for employment. At first it applied to four industries: chain-making, ready-made tailoring, paper-box making, machine-made lace making, and finishing trades. It was later expanded in 1912: mining and then to other industries with a preponderance of unskilled manual labour. Debates Winston Churchill, MP, put the argument for the legislation as follows: See also *UK labour law * Trade Boards Act 1918 * Wages Councils Act 1945 *National Minimum Wage Act 1998 *S Webb and B Webb, ''Industrial Democracy'' (1898) *Liberal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
History Of Capitalism
The history of capitalism is diverse and the concept of capitalism has many debated roots. The history of the past 500 years is concerned with the development of capitalism in its various forms. Capital accumulated by a variety of methods, at a variety of scales, became associated with much variation in the concentration of wealth and economic power. Capitalism gradually became the dominant economic system throughout the world. Historiography The processes by which capitalism emerged, evolved, and spread are the subject of extensive research and debate among historians. Debates sometimes focus on how to bring substantive historical data to bear on key questions. Key parameters of debate include: the extent to which capitalism is a natural human behavior, versus the extent to which it arises from specific historical circumstances; whether its origins lie in towns and trade or in rural property relations; the role of class conflict; the role of the state; the extent to which capi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
King James I
James VI and I (James Charles Stuart; 19 June 1566 – 27 March 1625) was King of Scotland as James VI from 24 July 1567 and King of England and Ireland as James I from the union of the Scottish and English crowns on 24 March 1603 until his death in 1625. The kingdoms of Scotland and England were individual sovereign states, with their own parliaments, judiciaries, and laws, though both were ruled by James in personal union. James was the son of Mary, Queen of Scots, and a great-great-grandson of Henry VII, King of England and Lord of Ireland, and thus a potential successor to all three thrones. He succeeded to the Scottish throne at the age of thirteen months, after his mother was compelled to abdicate in his favour. Four different regents governed during his minority, which ended officially in 1578, though he did not gain full control of his government until 1583. In 1603, he succeeded Elizabeth I, the last Tudor monarch of England and Ireland, who died childless. He ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Justice Of The Peace
A justice of the peace (JP) is a judicial officer of a lower or ''puisne'' court, elected or appointed by means of a commission ( letters patent) to keep the peace. In past centuries the term commissioner of the peace was often used with the same meaning. Depending on the jurisdiction, such justices dispense summary justice or merely deal with local administrative applications in common law jurisdictions. Justices of the peace are appointed or elected from the citizens of the jurisdiction in which they serve, and are (or were) usually not required to have any formal legal education in order to qualify for the office. Some jurisdictions have varying forms of training for JPs. History In 1195, Richard I ("the Lionheart") of England and his Minister Hubert Walter commissioned certain knights to preserve the peace in unruly areas. They were responsible to the King in ensuring that the law was upheld and preserving the " King's peace". Therefore, they were known as "keepers of th ... [...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] |
Statute Of Labourers 1351
The Statute of Labourers was a law created by the English parliament under King Edward III in 1351 in response to a labour shortage, which aimed at regulating the labour force by prohibiting requesting or offering a wage higher than pre-Plague standards and limiting movement in search of better conditions. The popular narrative about its success and enforcement holds that it was poorly enforced and did not stop the rise in real wages. However, immediately after the Black Death, real wages did not rise, despite the labour shortage. Background The Black Death, or Bubonic Plague killed more than one-third of the population of Europe and 30-40% of the population in Britain and caused a dramatic decrease in the supply of labour. Landowners suddenly faced a sharp increase in competition for workers to work for them. Labourers had increased bargaining power and commanded higher wages. The increase in labour cost also led to inflation throughout the economy. The elite class lamented the s ... [...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] |
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] |
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] |
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] |
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] |
