wow-inequalities/02-data/intermediate/wos_sample/82cd25555964eb5426000ba4dc24ec78-xie-fusheng-and-che/info.yaml

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2023-09-28 14:46:10 +00:00
abstract: 'The ongoing debates on the impact of minimum wage have largely focused
on the policy''s employment effect for its theoretical implications, but
the real question at stake here is its income effect, that is, whether
or not it can increase the income of the underclass. Previous efforts
have mostly relied on various forms of market imperfection to verify the
theoretical integrity of this policy, whereas in this article we have
raised another Marxian perspective, emphasizing the positive check of
minimum wage on overtime work. Classical economists have long recognized
the vulnerability of the working class when faced against capitalists,
but only Marx has paid special attention to the complicated interaction
between hourly/unit wage rates and the length of the working day,
proposing that low wage rates would not only hurt workers by forcing
them to work overtime, but that it would also hurt the capitalists as a
class once large-scale labor degradation kicks in, endangering the very
existence of a well-functioning working class for them to employ. Both
the inherent conflict of interests between individual capitalists and
capitalists as a class and workers'' systematic disadvantage against
capital serve to call for the intervention of a ``visible hand{''''} which
is the establishment of a minimum wage. A theoretical model has been
proposed to formalize this wage-hour mechanism for the underclass,
emphasizing the special constraints they face when making labor supply
decisions. We have discussed three different types of income effect,
explaining how workers'' income might increase with minimum wage and how
firms might also benefit from such a process.'
affiliation: 'Xie, FS (Corresponding Author), Renmin Univ China, Sch Econ, Beijing,
Peoples R China.
Xie, FS (Corresponding Author), Renmin Univ China, Coinnovat Ctr Econ Construct
Socialism Chinese Ch, Beijing, Peoples R China.
Xie, Fusheng; Chen, Ruilin, Renmin Univ China, Sch Econ, Beijing, Peoples R China.
Xie, Fusheng, Renmin Univ China, Coinnovat Ctr Econ Construct Socialism Chinese
Ch, Beijing, Peoples R China.'
author: Xie, Fusheng and Chen, Ruilin
author-email: 'xiefusheng@ruc.edu.cn
crlbelinda@163.com'
author_list:
- family: Xie
given: Fusheng
- family: Chen
given: Ruilin
da: '2023-09-28'
doi: 10.13169/worlrevipoliecon.8.4.0503
eissn: 2042-8928
files: []
issn: 2042-891X
journal: WORLD REVIEW OF POLITICAL ECONOMY
keywords: minimum wage; income effect; unconditional quantile regression
keywords-plus: EMPLOYMENT; ECONOMICS; DECOMPOSITION; STATE; MODEL; TIME; BIAS; LAWS
language: English
month: WIN
number: '4'
number-of-cited-references: '65'
orcid-numbers: Chen, Ruilin/0009-0007-8867-3275
pages: 503-541
papis_id: 55c588d6a4ec61dda7bb8112aa10ad03
ref: Xie2017incomeeffect
times-cited: '0'
title: THE INCOME EFFECT OF MINIMUM WAGE FOR THE UNDERCLASS Is It Positive in China?
2023-10-01 08:15:07 +00:00
type: article
2023-09-28 14:46:10 +00:00
unique-id: WOS:000429325400003
usage-count-last-180-days: '0'
usage-count-since-2013: '4'
volume: '8'
web-of-science-categories: Economics
year: '2017'