Group items tagged

This article speaks about a trending topic her in the US which is that of increasing the minimum wage from $7.50 to $9.00 or just around that. This would be a step in the right direction because it would increase the nation's overall per capita salary. What is also interesting is that the minimum wage in the united states is not adjusted to the rate of annual inflation (3%), only ten states are the wages adjusted. The bill in congress would include after a certain time that the wages start to be adjusted with inflation annually.

This article talked about the life of Chinese factory workers. Despite the harsh working conditions, the workers don't strike. This reminded me of demand in many different ways. 1) The demand for food will always be high because it is essential to life. The price that these people have to pay is working past the legal hours, living in unfavorable conditions, and working in unsafe factory floors. 2) The high demand for cheap products increases the demand for workers who are willing to work for under the minimum wage. This article taught me the relation between the price of a product and the wage of a worker.