minimum wage - Economics Students Society of Australia

minimum wage

A collection of 5 posts

The economics behind the ‘living wage’ debate

The economics behind the ‘living wage’ debate

Debate concerning whether Australia’s minimum wage should become a ‘living wage’ has been sparked by a campaign from the Australian Council of Trade Unions (ACTU).[1] This has been led by the belief that the current minimum wage is not enough for workers to sustain a healthy living standard.

Editors' Picks — 10th May 2015

Budget Monitor, The Wheels Fall Off — Deloitte Australia’s budget is in a poor position, and it is only getting worse. Deloitte explains that China has been driving the budget for the last decade, but now, as we observe China’s economic growth rate reach a slowdown, Australia is struggling

The minimum wage debate

bipartisan policy

The minimum wage debate

The minimum wage is one of the most controversial topics in economics, so it comes as no surprise that debate regarding this topic has once again ignited in America after President Obama recently called for hikes in America’s minimum wage. While the intent of this action is to assist

Editors' Picks - 4 May 2014

Editors' Picks - 4 May 2014

This week in Editors’ Picks we take a look at the effects of raising the minimum wage, pricing of supermarket products, Australian productivity, moves towards oligarchy and new takes on globalisation. The Record Is Clear: Minimum Wage Hikes Destroy Jobs – Michael Saltsman According to Saltsman, the case for a higher

That old chestnut: revisiting the minimum wage

That old chestnut: revisiting the minimum wage

While reading fellow ESSA contributor Joey Moloney’s article I came across the under-consumption paradox. This was something that I had grappled with before in trying to reconcile the microeconomic lessons about price floors and the minimum wage with macroeconomic lessons about aggregate income and expenditure and the Keynesian Cross.