Imagine there is a standard, a standard that all labor, service, and other unskilled sectors of employment adhere to. That standard is to only pay the minimum compensation for their employee’s time. Many people, in America, know this as minimum wage. Minimum wage is not sufficient for any person working full time, a 40-hour workweek, to have a large enough income that is considered a living wage or even an income that provides the standard of living. There are two economic principles that are relevant to this topic. The first is the standard of living; that can be understood as the smallest, or minimum, income for a person to cross a threshold that is reflected in society to be on par, or higher, with the average income of a collected area, or region. The second principle is the quality of living; it could be simply understood as a life that is enjoyable and is without general hardship, including economic hardship. The issue of discussion here is should minimum wage be changed, and if it should be, then how should …show more content…
You work full time at a labor job. For the sake of the argument, let’s say this job is operating a convenience store. You work a 40-hour workweek. In order to have this job you need a means of transportation. There is public transportation, but is public transportation really the standard? No, the standard of living in America is for independent adults to own a vehicle. So, you purchase a vehicle and all the cost associated with owning a vehicle, including auto insurance. As well as the car that is needed; you need a place to safely put your head at night. You get an apartment. After all of these expenses you’re nearly out of money. All of the money you have left is used to buy food. Now you’re completely broke, and you continue on like this every month, and every paycheck. You are just barely able to afford food at the end of the day. This is how many people live their lives, working from paycheck to