Monthly Archives: October 2015

Russia and Ukraine Partake In Economic Warfare

 

The seemingly never ending political conflict between Ukraine in Russia now has caused some serious repercussions for both parties. Following the ban from the Ukrainian government of flights to from Russia, Russia has also issued a boycott of their own (Tomkiw 2015). This is a very alarming conflict, because both nations have already suffering economies (Tomkiw 2015). This would mean that many airliaeroflotnes will have to shift their flight paths to avoid restricted areas. This will likely increase prices for the passengers. This whole situation is very far from ideal for both of these nations. It really is the last thing they would need right now. It is expected that this ban will hit the larger Russian industry harder than the Ukrainian, given that the need for Ukrainian flights to fly over Russia is much less (Tomkiw 2015). Given the rough past this two nations have had, it would be asking quite a lot for them to collaborate in order to effectively reduce their economic issues, but would likely be necessary for effective reparation, and harm reduction.

 

Tomkiw, Lydia. “Russia And Ukraine Conflict Takes To the Skies: Airline Sanctions Are Latest High-Flying Economic Battle.” International Business Times. N.p., 01 Oct. 2015. Web. 01 Oct. 2015. <http://www.ibtimes.com/russia-ukraine-conflict-takes-skies-airline-sanctions-are-latest-high-flying-economic-2121322>.

 

Aeroflot. Digital image. International Business Times. N.p., 1 Oct. 2015. Web. 1 Oct. 2015. <http://www.ibtimes.com/russia-ukraine-conflict-takes-skies-airline-sanctions-are-latest-high-flying-economic-2121322>.

Walmart Workers Demand Minimum Wage Increase

Something that has been extensively covered the news lately, is the demand of Walmart workers across the United States to have their wages increased to $15.00 an hour. Many Walmart employees were interviewed their opinions on whether or not they think the wages should be increased or not. As one would expect, majority of these employees were in favour of MinimumWagean increase of their wages. I do not see this as a viable option to help the economic issues of the nation. Few however, did not see that as a reasonable option. One employee specifically, Shantel says $15 an hour “is pushing it” (Stangler 2015). For an entry level job, designed for people with no post-secondary education, the wages really aren’t that terrible, with Shantel earing $9.40/hr (Stangler 2015). If this wage increases were to be implemented, there would be other repercussions that the short sighted could not envision. Based on economic principles, if the minimum wage were to increase this drastically, there are many negatives. Companies would be less willing, as well as less able to employ the same amount of employees, they might also consider increasing their prices to compensate (Halvorson 2015). Another negative side effect is that the demand for this jobs will intensify, as overqualified individuals might also shift their attention to these high paying minimum wage jobs (Halvorson 2015). Society as a whole would not benefit from this increase.

Halvorson, Chad. “The Pros and Cons of Raising the Minimum Wage.” When I Work. N.p., 6 Mar. 2014. Web. 01 Oct. 2015. <http://wheniwork.com/blog/the-pros-and-cons-of-raising-the-minimum-wage/>.

Stangler, Cole. “Walmart Workers Still Unsatisfied, 7 Months After Widely Celebrated Pay Raise.” International Business Times. N.p., 23 Sept. 2015. Web. 01 Oct. 2015. <http://www.ibtimes.com/walmart-workers-still-unsatisfied-7-months-after-widely-celebrated-pay-raise-2106949>.

MinimumWage. Digital image. Beyond. N.p., 21 Feb. 2013. Web. 01 Oct. 2015. <http://www.beyond.com/articles/effect-of-the-minimum-wage-increase-on-retail-and-small-business-12183-article.html>.