Week 3 – Assignment Introduction, Thesis Statement, and Annotated Bibliography Prepare: To help with the preparation of your annotated bibliography, review the following tutorials and resources from the Ashford Writing Center: Introduction Paragraph Guide (Links to an external site.)Links to an external site. Thesis Statement tutorial (Links to an external site.)Links to an external site. Annotated Bibliography tutorial (Links to an external site.)Links to an external site. Sample Annotated Bibliography (Links to an external site.)Links to an external site. Evaluating Sources (Links to an external site.)Links to an external site. Reflect: Reflect back on the Week Two Discussion in which you shared with the class the global societal issue that you would like to further address. Explore critical insights that were shared by your peers and/or your instructor on the topic chosen and begin your search for scholarly sources with those insights in mind. Write: For this assignment, review the Annotated Bibliography Formatting Guidelines and address the following prompts: Introductory Paragraph to Topic: Refer to the Final Argumentative Essay guidelines for your topic selection. Write an introductory paragraph with at least 150 words, which clearly explains the topic, the importance of further research, and ethical implications. Thesis statement: Write a direct and concise thesis statement, which will become the solution to the problem that you will argue or prove in the Week Five Final Argumentative Essay. A thesis statement should be a declarative statement that makes one point in 25 words or less. The thesis statement must appear at the end of the introductory paragraph. Annotated Bibliography: Develop an annotated bibliography to indicate the quality of the sources you have read. For each annotation, you need to summarize in your own words how the source contributes to the solution of the global societal issue. Your annotation should be one to two paragraphs long (150 words or more) and fully address the purpose, content, evidence, and relation to other sources you found on this topic. The annotated bibliography must include no less than five scholarly sources that will be used to support the major points of the Final Argumentative Essay. Critical thinking skills need to be demonstrated by accurately interpreting evidence used to support various positions of the topic. The Introduction, Thesis Statement, and Annotated Bibliography Assignment Must be 1,000 – 1,250 words in length (excluding the title and reference pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.)Links to an external site.. Must include a separate title page with the following: Title of paper Student’s name Course name and number Instructor’s name Date submitted Must use at least five scholarly sources. Must document all sources in APA style as outlined in the Ashford Writing Center

 

Global Minimum Wage

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Introduction

The minimum wage is the least take away salary that workers need to take home as their salary. It is controlled by states in many parts of the globe. However, in some places, it is also influenced by the federal government. Due to the current economic and global world markets, and the worldwide trades, the rice in the demand of the universal minimum wage (Academic Foundation, 2008). This is a situation that world laborers are paid at the same rate in the globe. This would be possible but very difficult to set. In the first world, there are substantial economic grounds, and their economy allows them to pay a better minimum wage to the employee. However, in the developing countries like most of the countries in Africa, the minimum wage is profoundly below the standards. The differences in the economic potential create a problematic opportunity to have a fair and uniform global minimum wage (Cunningham, 2007).

Thesis statement

Global minimum wage cannot be set in a different state because of the economic constraints. Therefore one would be troubled in looking for a process that can allow the worldwide minimum wage. This leads to the thesis statement which says ‘’ Global minimum wage is impossible.’’

Annotated bibliography

Eyraud, F., & Saget, C. (2005). The fundamentals of minimum wage fixing. Geneva: International Labour Office. The book describes the minimum wage as an economic and social economic tool which is sturdy as well as flexible. The source indicates that it draws its comprehensive database on the principal legal provision and minimum wage fixed mechanism from 100 countries. The book also covers the various processes of implementing the minimum wage. The paper concludes that because of difference in the currencies and economic status, there cannot be a universal minimum wage.  

The knowledge of a worldwide lowest pay is not first-hand, however, with the luck of a rational plan, there has never been progress. The average income based on the living standards and typical earnings in every state is a standard proposal. The challenge is putting the system in place and start working on it has become one of the most terrible things, and it has taken decades.

In the year 1928, the latest Agreement regarding the Formation of Lowest Wage-Fixing Apparatus left incredible freedom to all countersigned state (Eyraud & Saget, 2005). The convention failed. “All Associate which approves this Pact will be permitted to choose the nature as well as the method of the lowest pay-fixing equipment, and the methods which are followed in its operation. Ninety-nine nations approved the agreement. These were China who joined in 1930 and in 1955 India – to slight consequence, as we now understand. Most of the countries failed to join for about eighty years, which is up to 2007. Therefore, one can conclude that the member to ratified quickly, it has to establish the most significant number of members. There should also be one system of application.  

The worldwide minimum wage aims at the salary stipendiaries whose labor is associated with the goods and services that are left to be exported to the most substantial world-wide consumer marketplaces. The heads of the countries which are still developing see potential of a decent wage. This also leads to the sourcing of the tax revenue which becomes the most significant part of development (Michie, 2011). In the long run, the minimum wage generates encouraging macroeconomic outcome on the living standards of whole inhabitants.  Currently, hourly payments range from the insufficient cents to less than Euro earnings’ part of the manufacture price of customer properties created under low pay nations frequently characterizes only one to five percent of the whole value paid by the customer. A detailed universal lowest wage of 300 dollars to 400 dollars would raise the cost of production, however, still has controllable impacts to consumers prices. 

Palley, T. I. (2013). From financial crisis to stagnation: the destruction of shared prosperity and the role of economics. New York: Cambridge University Press.

The book quotes that the second difficult reforms to put across are advocating for an international minimum wage rate. The book also explains that the process of establishing a wage rate does not mean that the economy of USA will be imposed to those of the developing world, but it involves setting rules and regulations that control the minimum wage. But because of the strengths of the economies and differences in the values of the currency, the economy would fall. The information below is explained basing the ideas from the book.

It is impractical, counter-productive, not to comment unbearable to apply, for a laborer working on the road in Sierra Leone to be sure of an equal wage as somebody in South Korea or Japan. The costs of living contrast enthusiastically that it would cost the minimum wage in states living below the poverty line more than anyone could pay (Palley, 2013). Their entire delicate economy would fall because the laborer would not be able to pay the minimum that can sustain the economy.  Consecutively, if the minimum wage is set low for the developing nations, it would be equivalent to eradicating it more wealthy countries.
  On the other hand, the issue of the minimum wages by country is that in some countries like the United States can evade compensating minimum salary through importing of products from China, Indonesia as well as Malaysia, where workforces are paid less. There is little impact to change the minimum wage rate if a country can afford to purchase the goods and services at a lower price as compared to employing and lowering the wage rate (Palley, 2013).

Most of the countries prefer to have their minimum wage instead of having a single minimum wage. However, the countries prefer tariffs with the goods and services form different states with a separate minimum wage. Purchasing a product from a country with the same minimum salary the charge would be lower. However if one country purchases from another country with high minimum wage it has to more. For example, purchasing from the United States requires a nation to have tariffs which are expensive. The drawback that would upset the export marketplaces of the developing countries, but it would mean that states would be playing on an equal ground regarding production, and the weaker countries would have increased motivation to market their properties within (Palley, 2013).

 

References

Cunningham, W. V. (2007). Minimum wages and social policy : lessons from developing countries. Washington, DC : World Bank.

Eyraud, F., & Saget, C. (2005). The fundamentals of minimum wage fixing. Geneva : International Labour Office.

Foundation, A. (2008). Global Wage Report: 2008/09 Minimum wages and collective bargaining towrds policy coherence. Academic Foundation.

Michie, J. (2011). The handbook of globalisation. Cheltenham, UK ; Northampton, MA : Edward Elgar Pub.

Palley, T. I. (2013). From financial crisis to stagnation : the destruction of shared prosperity and the role of economics. New York : Cambridge University Press.