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Essay / Research Paper Abstract
A 9 page paper which looks at the theories of Locke and Rousseau in relation to the concept of the minimum wage, and considers which of these theorists would have supported the concept and which would have rejected it. Bibliography lists 4 sources.
Page Count:
9 pages (~225 words per page)
File: JL5_JL2minwag.rtf
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Unformatted sample text from the term paper:
of factors which we would need to consider. First of all, it would be simplistic to assume that enforcing minimum wage levels would automatically solve all the problems of economic
inequality within a given society, and therefore we would need to look more closely at how the minimum wage relates to other factors, such as levels of production, taxation, the
movement of capital and so on. Secondly, in order to integrate these elements with the respective philosophies of Locke and Rousseau, we would need to look at their perspectives on
social structure, the rights of the individual, and the way that the individual should interact with both government (responsible for legislation) and civil society (responsible, in a non-centralised economy, for
the structure of markets and the flow of capital). As a salient example of a society where the introduction of a minimum wage
might have been seen as the solution to a wide range of issues related to economic failure and social welfare problems, let us briefly consider the US during the Great
Depression of the 1930s. As Gusmarino (1996) points out, one of the significant factors in the causes of the Depression was the fact that wages did not keep pace with
increased productivity. American manufacturing capacity was increasing constantly, but wage increases did not reflect this: workers pay lagged severely behind their increased rate of productivity. The combination of slow wage
increases and a rapid fall in production costs as manufacturing became more efficient meant that profits went towards corporate profits rather than to the workers themselves.
It is notable that due to the legislation of the time, the rich paid fewer taxes, while at the same time it was ruled unconstitutional to
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