Discussion of the legislation that established the federal minimum wage, the year that it was established,...

Discussion of the legislation that established the federal minimum wage, the year that it was established, and the major reasons for establishing the legislation.

Expert Solution

The national minimum wage was created by Congress under the Fair Labor Standards Act (FLSA) in 1938. FLSA was a comprehensive federal scheme which provided for minimum wages, overtime pay, record keeping requirements, and child labor regulations. The purpose of the minimum wage was to stabilize the post-depression economy and protect the workers in the labor force. The minimum wage was designed to create a minimum standard of living to protect the health and well-being of employees. Others have argued that the primary purpose was to aid the lowest paid of the nation's working population, those who lacked sufficient bargaining power to secure for themselves a minimum subsistence wage. FLSA specifically provided for a minimum wage for full time and part-time, public and private sector workers. Specifically, workers who are “engaged in” or “in the production of goods for” interstate (commerce between the states) and foreign commerce.

Rahul Sunny answered 2 years ago

Discuss the economic impact of minimum wage legislation on the Tanzanian economy.

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