Ripple Effect Essay

The american dream which is idolized by all the world, is an ethos ideology that guarantees the opportunity towards prosperity and success, and an upward social mobility for family and children, achieved through hard work in a society with few speed bumps along the way. The transparent idea that one idea can change your life. Throughout history people each for their big break some stumbling upon it and others letting the american dream only be a tumble weed blowing away but still in sight. A constant reminder of what the american people wish to pursue their entire life. All people in America have the very freedoms the allow them to pursue this dream so of which include, democracy, rights, liberty, opportunity, and

Some argue that if an increase in minimum wage is passed businesses will raise the prices of goods and services to help compensate the cost of pay raises. The cost in goods and services is already on an increase due to the high host of gas/oil, yet we are

There are a lot of people around the world who struggle with money and a satisfactory way of life. Whether they be in the United States or across the globe, there is a standard minimum wage set for the working class of their country. In the Unites States, there is a federal minimum wage of seven dollars and twenty five cents per hour worked. Almost every state has another set minimum wage, which typically is a little higher than the federal minimum wage, but it cannot be lower than seven dollars and twenty five cents. Countries set minimum wage laws, to ensure there is a basic quality of life amongst its citizens. As the minimum wage goes up in certain states, the quality of life also improves. The problem with a higher minimum wage, is now people are getting paid higher for entry level jobs which are meant for teenagers and people new to the workforce. If the minimum wage keeps increasing across the country, teenagers and young adults will have a much more difficult time finding jobs.

While the motivation of the American Dream may be materialistic or moralistic, it is based on the sole property of opportunity. As shared by Martin C. Jischke in “The American Dream,” “the American dream is the ‘dream of a land…with opportunity for each according to the ability or achievement’” (75). Because the qualities of an individual are unique, the measurement of success varies. Improvement in any sense must be sparked by a window of hope at a richer life. The American Dream is easily attainable when paired with opportunity and a strong work ethic. Without the necessary investment of time and labor, the skill sets and knowledge of those working towards the American Dream are laid to waste.

An increase in the minimum wage would push companies to take this route as it becomes more and more profitable to them. The end result of all of this would be a suddenly increased level of unemployment bound to become subsequent with an increase in government-funded welfare expenses, weakening the economy even more.

The controversy over minimum wage has been ongoing. However, as explained in a Time article by Chris Lu on the subject, now is the prime time to raise the federal minimum wage. “Three out of four Americans support an increase; the economy is healthy; and many employers are already raising wages.” It’s reasonable to be worried about the consequences that raising the minimum wage might have in a time of crisis or unrest, but this quote mentions a healthy economy that would be able to handle the shifts in wages if things went south temporarily. Another argument made by opposers of raising the minimum is that businesses will be unable to survive. On the contrary, a good business will find it beneficial. “‘It’s a simple, but critical, concept: take care of your people and they will take care of your customers.’ For &pizza, higher wages reduce employee turnover, increase productivity and improve customer service.” Rather than hurting the economy, raising the minimum wage will help workers, business owners and the economy itself. A higher wage for all is

If the minimum wage goes up the potential of prices being raised are high. In the article “In Washington, D.C., a boost for the bottom line” Gina shaffer talks about raising prices of her products in paragraph 5. If the minimum wage is increased many stores will do the same in addition to letting people go. Another example of this is image A in our packet. The image shows two McDonald's employees enjoying the minimum wage hike, then a single mom with two kids is in the next part unhappy that the price of a happy meal has risen to

The American Dream: Is is fact or fiction? In the United States’ Declaration of Independence, our founding fathers set forth the idea of an American Dream by providing us with the recognizable phrase “Life, Liberty, and the Pursuit of Happiness”. The green light at the end of Daisy Buchanan’s dock symbolizes Jay Gatsby’s “Pursuit of Happiness” in the novel, The Great Gatsby, set in the 1920s on Long Island, New York. The American Dream can be defined as “the belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society where upward mobility is possible for everyone. The American Dream is achieved through sacrifice, risk-taking, and hard work, not by chance” (Fontinelle, Amy). At the birth of our country in 1776, our founding fathers introduced the American Dream as a personal desire to pursue happiness; however, the pursuit of happiness was not intended to promote self-indulgence, rather to act as a catalyst to encourage an entrepreneurial spirit. As our country has changed, the idea of the American Dream, in some cases, has evolved into the pursuit of one’s own indulgences such as material gain regardless of the consequences.

Minimum wage is currently at 7.25 (Furman) if minimum wage goes up so does everything else, so it wouldn’t make a difference. Food cost will go up, such as milk sugar, and everything else we use on a daily basis. Not only that but, It could cause a store to shut down due to having to pay employees twice as much as before. Labor cost would be high and unreasonable. If the prices of items or product being sold doesn’t go up.

If minimum wage was increased many jobs would be lost. Employers would be forced to fire people because they wouldn’t be able to afford to keep them. “In 1938 minimum wage was raised by twenty-five cents, resulting in many people losing their jobs” (Cato Institute). Unemployment rates would be higher than ever. Raising the minimum wage would also make it more expensive for business’ to run, giving them no choice but to close down sending more people out of work causing the unemployment rate to go up (ProCon.org). Raising the minimum wage would result in higher prices, which would then result in less items being sold (ProCon.org). Without money

Another thing business might do in a reaction to the raised minimum wage is increase prices. This will indeed make the poverty-stricken poorer. With food and other goods costing more, and jobs being hard to find, it will be extremely difficult for people to survive in the economy.

When people receive more money from a job and uses it to buy and pay for necessities, more money will be in circulation. More money in circulation will help to even out other payments and job owners will not be worried about paying workers. More money in the economy will also raise income. Raising the minimum wage might hurt the consumers as well, but it will be worth it in the long run since it might help more people improve their financial situation. It also makes more sense to raise the minimum wage because more than half of the fifty states have already raised their minimum wage higher than the federal limit (“Minimum Wage”). If raising it works for other states already, why not raise it higher for the whole

The economic effects of raising the minimum wage can be damaging, but I believe the benefits of it outweigh the negatives. Those who tend to live on the minimum wage - fast food workers, retail employees, ext. - tend to spend most to all of their income. By raising their wage, they are able to 1. spend more and 2. possibly invest more. This would have a ripple effect throughout the entire economy - leading to raises for everyone. It is

If we look this in an economist’s perspective, the businesses that will be directly affected by the new minimum wage are factories, supermarkets, fast food franchises, small hotels, restaurants and grocery stores, as well as transportation businesses. As a consequence, the increase in the cost of production will be transferred to the consumers. Those people who are all well paid will have less headache dealing with the increase in the cost of living. But how about the college students, the people who just started to work? They need to deal with the increase in the price of food, as the transportation cost has increased. These people who can barely make ends meet will find eating outside to become more expensive than before and need to cook food for at home. Certainly business like restaurants and hotels will suffer, because if the firms increase their prices, they would get fewer customers, but if they stick to their current charged, the businesses would get lower profits as the employees’ wages have increased. Certainly, a little inflation rate is favorable for economic growth, as people will invest on assets when they expect the price will increase. However, if the level of inflation is too high, and there are too many goods where prices are inflated, people will afraid to spend their money, thus the economy will

When I read high schoolers and people who work at jobs that pay minimum wage say that raising minimum wage will solve everyone's problems, it honestly makes me think that they don't understand anything about the economy. When you raise the minimum wage, the price of essentials and necessities also increase. An example of this would be the 1970's, The price of everything was at a very low cost. Such as, Milk which was only $1.65 which today would be far better than the costly price of $3.67. Although you may be convinced that the 1970's seems an easier time to live in, you are actually quite inaccurate. While the prices of everything was low so was minimum wage at a meager one dollar an hour. The price all around of everything increases because