Does it matter that a small business owner cannot afford to pay his/her workers more than minimum wage and remain in business?
Corporate Responsibility and Society
MLK Make up Assignment:
You should consider the following issue and apply the principals of the five ethical theories introduced in class in a short essay paper, which should be between 3-5 pages. For each ethical theory, identify the theory and apply its principals to the following issue.
ISSUE:
In 2016, the Florida Department of Economic Opportunity (“DEO”) announced that the minimum wage in Florida would remain at $8.05 per hour, and the minimum wage for employees who earn tips would remain at $5.03 per hour. These are the legal minimum wages in Florida. Does the application of the ethical theories require that minimum wage be increased or not?
Issues to consider:
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Is the minimum wage an improper poverty wage? Is the minimum wage fundamentally exploitative?
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Are employers justified in paying unskilled laborers less compensation?
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Should it matter if the minimum wage worker is supporting a family or is a young worker trying to earn extra spending money?
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Does it matter that a small business owner cannot afford to pay his/her workers more than minimum wage and remain in business?