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Minimum Wage

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Written by:

James J


Date added:

February 12, 2015








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2 / 518


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If everyone earns exactly the same amount of money, then the income distribution would be perfectly equal. If no one earns any money except for one person, who earns all of the money, then the income distribution would be perfectly unequal. In a normal society Income Distribution is usually somewhere in the middle of perfectly equal or unequal...
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When a small number of people start receiving a large portion of the income in a society, the government tries to find ways to redistribute income. Governments try to stop the rich from getting richer, and the poor from getting poorer in order to achieve a good balance in income distribution. Minimum wage laws are a way that the federal and state governments balance income distribution...
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