The Ethics of Minimum Wage Legislation

March 30th, 2015 by Kara in Case Studies

The fifth in SPI’s Inequality Series By: May Leung  AN OVERVIEW OF MINIMUM WAGE LEGISLATION Minimum wage legislation is hotly debated. A minimum wage is the lowest hourly, daily or monthly remuneration employers legally have to pay to workers. The main purpose of the legislation is to ensure employers, who usually have higher bargaining power in the labor market, do not exploit their workers and that workers earn a fair living wage. Apart from doing good to labor, proponents of the minimum wage legislation also argue the legislation can benefit the employers as well. ...

Some Solutions to Economic Inequality

March 13th, 2015 by Kara in Case Studies, Essays

The fourth in SPI’s series on Inequality   By: Remy Smith For most families in the US, incomes are stagnating as real wages remain steady or are actually declining. Stagnating incomes mean that the “middle class is too weak to support the consumer spending that has historically driven our economic growth” (Stiglitz). Middle class households, “who are most likely to spend their incomes,” (Stiglitz) actually have lower incomes than they did in 1996, when adjusted for inflation. A strong middle class drives economic growth; however, today the middle class is pressed for money. ...

David Vines and Nicholas Morris on Capital Failure

March 5th, 2015 by Kara in Interviews

  An interview with Oxford Professors David Vines and Nicholas Morris on Capital Failure: Rebuilding Trust in Financial Services. The authors speak with Seven Pillars Institute about their views on ethics, trust, regulation and the way forward in financial services. Your new book Capital Failure: Rebuilding Trust in Financial Services argues the culture of trust in the financial services industry was eroded over the past few decades. Can you give the main reasons for this erosion? Chapter 2 of our book provides a historical narrative about the many things that happened. The ‘big bang’ ...