A Quote by Janet Yellen
Firms don't just try to pay as little as possible to get the needed bodies on board; when there is unemployment, they ask themselves how wage cuts would affect the behavior of the employees. Would they quit or feel dissatisfied and work less hard on the firm's behalf if they feel that wage policies are unfair?
Related Quotes
Since it is to the advantage of the wage-payer to pay as little as possible, even well-paid labor will have no more than what is regarded in a particular society as the reasonable level of subsistence. The lower ranks of labor will commonly have less, and if public relief were afforded even up to the wage-level of the lowest ranks of labor, that relief would compete in the labor market; check or dry up the supply of wage-labor. It would tend to render the performance of work by the wage-earner redundant.
I know how to create and make people feel something. Honestly, if I didn't do this, I would just have some minimum-wage job in New Mexico, and I would go out on the weekends and make just enough money to pay my insurance and pay for a couple beers, and that would be it.
Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.
I used to work at McDonald's making minimum wage. You know what that means when someone pays you minimum wage? You know what your boos was trying to say? "Hey if I could pay you less, I would, but it's against the law."
People will say 'how can you have a plane when your workers are on minimum wage?' I said 'but I don't set the minimum wage.' If the minimum wage would be the living wage, then the Government who set the rules should set it at the living wage. That's how I look at it.
I would favor three policies: raising the minimum wage to $12, closing the tax loophole where persons only pay a 15% income tax on long term capital gains (tax it at the full tax rate), and institute a progressive tax moving the highest tax rate from 39.6% to 45%. I would favor implementing these three policies in that order, starting with raising the minimum wage, but not stopping there.
Raising the minimum wage and lowering the barriers to union organization would carry a trade-off - higher unemployment. A better idea is to have the government subsidize low-wage employment. The earned-income tax credit for low-income workers - which has been the object of proposed cuts by both President Clinton and congressional Republicans - has been a positive step in this direction.
I have been hired by Allah to get a wage, which if the space between the Earth and sky is filled up with pearls, still (the wage) would be more than it, for each of the questions I may answer you. Therefore, I deserve it that I must not feel tired or exhausted (in answering your questions).
In my view, we need a massive federal jobs program which puts millions of our people back to work. We must end our disastrous trade policies. We need to raise the minimum wage to a living wage. And we have to fight for pay equity for women.
My mother saved our home with a minimum wage job. But in the 1960s, a minimum wage job would support a family of three above the poverty line. Not today. Not even close. I understood right then that people can work hard, they can play by the rules, and they can still take a hard smack.
I have lived much of my life among molecules. They are good company. I tell my students to try to know molecules, so well that when they have some question involving molecules, they can ask themselves, What would I do if I were that molecule? I tell them, Try to feel like a molecule; and if you work hard, who knows? Some day you may get to feel like a big molecule!
I want to wage war against illiteracy, poverty, unemployment, unfair competition, communitarianism, delinquency.
At the risk of some oversimplification, if the skill composition of our work force meshed fully with the needs of our increasingly complex capital-stock, wage-skill differentials would be stable, and the percentage changes in wage rates would be the same for all job grades.
I don’t feel that this is unfair. That’s the thing about cancer. I’m not the only one, it happens all the time to people. I’m not special. This just intensifies what I did. It gives it more meaning. It’ll inspire more people. I just wish people would realize that anything’s possible if you try; dreams are made possible if you try
For a time, it would work well. then it worked less and my pain was more. I would go through wild bouts of depression, horrible comedowns. I understand why kids kill themselves. I absolutely do. You feel terrible. You feel soul-less. "I'll never do it to my child".
Cleaning companies often pay their employees less than a living wage and offer no sick days or health insurance. My years of working for them still made me grimace every time I saw a little yellow car with 'Merry Maids' written on the side.
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