How Labor Laws And The Work Of The Individual And How They...

In the late 1800’s, labor laws and ethics were something that nobody thought of and did much about. It wasn’t until the reign of Pope Leo XIII and his idea of a revolutionary change that came in the doctrine of the Rerum Novarum, which focused on the laboring class. In first world countries, they have labor laws to help benefit the worker, but those first world companies take advantage of third world countries, and impoverished individuals. The focus of this paper will focus on how labor laws and the work of the individual and how they have a major effect on poverty. In first world countries, labor laws were created to protect and benefit the labor workers and to enable them to profit from their labor. According to Economic Justice for All, â€Å"employment is a basic right, a right which protects the freedom of all to participate in the economic life of society.† This quote is true for all individuals of all backgrounds, and not just those in first world countri es. Many individuals in the world do not benefit from the property that makes profits and so they must endure employment to elude poverty, and to support themselves and their families. With the ethics of Economic Justice for All, in the United States alone, there are 8 million American’s that are unemployed, cannot find jobs, and are living under the poverty line, which equivalates to 7 percent of the labor force in America. The article goes on to say that â€Å"the burdens of unemployment compel us to the conviction that asShow MoreRelatedThe Effect Of Minimum Wage On The Economy Of The United States932 Words   |  4 Pagescurrency has a major effect toward the amount an individual owns. The current world economy, labor is required in order to supply services to whomever is willing to buy. The amount of money distributed and earned throughout the economy feeds the nation s GDP, which shows the stability of the overall economy of that nation. There is an imaginary sequence that must be established in an economy in order to balance both labor and revenue to stabilize a country’s economy. Labor is an importantRead MoreThe Effect Of Minimum Wage On The Economy Of The United States905 Words   |  4 Pagesof currency has major effect toward the amount an individual owns. In the world economy labor is required in order to supply services to whomever is willing to buy. The amount of money distributed and earned throughout the economy feeds the nation s GDP which shows the stability of the overall economy of that nation. There is an imaginary cycle that must be established in an economy in order to balance both labor and revenue in order to stabilize a country economy. 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