A look at minimum wage scales and global competitiveness.
Written in 2002; 1,541 words; 6 sources; MLA; $ 50.95
Paper Summary:
This paper compares the local and global effects of the minimum wage. It discusses how companies on a global scale are relocating to places where labor is cheap in order to reduce costs. It discusses the creation of sweatshops and child labor in undeveloped countries because of minimum wage demands in Western countries.
From the Paper:
"Today, this same regional discrepancy exists on a global scale. The internet and instantaneous transfer of information makes it possible for smaller, faster companies to compete effectively with large established organizations. The once level labor cost playing field has been replaced by rolling hills and steep inclines. Those businesses which find themselves at the bottom of the hill, suffering under the weight of high labor costs, find that operating their businesses is becoming similar to running up and down those hills with a 50 pound back strapped to their backs. The journey is difficult, and their competitors can move at a much faster and more profitable pace."
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