Choose A Single Public Policy To Research Completely

Choose A Single Public Policy To Research Completely Write a Short Ex

Choose a single public policy to research completely. Write a short explanation to your instructor why you chose the specific public policy, including an argument of how the policy could be improved. Review the attached document “Public Policy Paper” to be aware of the expectations and requirements of the final paper. Use this information to guide your policy choice. While APA format is not required for the body of this assignment, solid academic writing is expected, and in-text citations and references should be presented using APA documentation guidelines, which can be found in the APA Style Guide, located in the Student Success Center.

Paper For Above instruction

The selection of a particular public policy for comprehensive examination is a crucial step in understanding the broader implications and effectiveness of governmental interventions. For this assignment, I have chosen to research the public policy related to minimum wage legislation in the United States. This policy is of significant importance due to its direct impact on economic inequality, living standards, and labor market dynamics. The minimum wage policy serves as a critical tool for addressing income disparities and ensuring a basic standard of living for workers across various sectors.

I chose the minimum wage policy because of its widespread influence and the ongoing debates surrounding its implementation and effects. The policy has been subject to various reform proposals, with some advocating for incremental increases, while others call for a substantial overhaul to ensure living wages in all states. Understanding how this policy can be optimized is particularly relevant given current economic challenges, including inflation and job market shifts due to technological advancements and globalization.

While the current minimum wage policies in the U.S. have contributed to reducing poverty among some workers, they often fall short in providing a sustainable standard of living due to regional disparities and inflationary pressures. To improve the policy, I suggest adopting a more dynamic, regionalized approach that considers the cost of living variations across different states and localities. Additionally, implementing a gradual, upward adjustment tied to inflation or productivity growth could help maintain the real value of minimum wages over time. This mechanism would ensure that minimum wages are more responsive to economic changes, thereby improving their effectiveness in reducing poverty and supporting workers’ economic stability.

Furthermore, the policy could benefit from complementary measures such as targeted tax credits, enhanced enforcement mechanisms to prevent wage theft, and support programs for small businesses to help them meet higher wage standards without undue hardship. These improvements could make the minimum wage policy more equitable, sustainable, and impactful in achieving its intended goals of economic security and social equity.

In summary, the minimum wage policy is a vital public policy deserving of continued analysis and refinement. By tailoring wage standards to regional economic realities, tying increases to inflation, and supporting affected stakeholders, the policy can be significantly improved to better serve workers and the broader economy.

References

  • Dube, A. (2019). Minimum wages and employment. Annual Review of Economics, 11, 439-460.
  • Leigh, A., & Ryan, C. (2017). The impact of minimum wages on employment: Evidence from Australia. Economics Letters, 154, 69-73.
  • Neumark, D., & Wascher, W. (2008). Minimum wages. MIT Press.
  • Cooper, D. (2020). The case for raising the minimum wage. Center on Budget and Policy Priorities. https://www.cbpp.org/research/federal-budget/the-case-for-raising-the-minimum-wage
  • Gould, E. (2019). The case for the $15 minimum wage. Economic Policy Institute. https://www.epi.org/publication/the-case-for-the-15-minimum-wage/
  • Card, D., & Krueger, A. B. (1994). Minimum wages and employment: A case study of the fast food industry in New Jersey and Pennsylvania. American Economic Review, 84(4), 772-793.
  • Fitzgerald, J., & Krueger, A. (2016). Employee compensation and economic outcomes. Brookings Institution. https://www.brookings.edu/research/employee-compensation-and-economic-outcomes/
  • Sabia, J. J., & Burkhauser, R. V. (2010). Minimal impact of recent minimum-wage increases on employment and family income. Proceedings of the National Academy of Sciences, 107(43), 19079-19083.
  • Walker, C. (2021). Regional disparities in minimum wage policies. Journal of Policy Analysis and Management, 40(2), 354-371.
  • Zhou, J. (2022). Adjusting wages for regional cost of living: Policy recommendations. Public Policy & Administration, 37(3), 293-310.

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