Corporate Responsibility And Society
You should consider the following issue and apply the principals of the five ethical theories introduced in class in a short essay paper, which should be between 3-5 pages. For each ethical theory, identify the theory and apply its principals to the following issue.
In 2016, the Florida Department of Economic Opportunity (“DEO”) announced that the minimum wage in Florida would remain at $8.05 per hour, and the minimum wage for employees who earn tips would remain at $5.03 per hour. These are the legal minimum wages in Florida. Does the application of the ethical theories require that minimum wage be increased or not?
Issues to consider:
1. Is the minimum wage an improper poverty wage? Is the minimum wage fundamentally exploitative?
2. Are employers justified in paying unskilled laborers less compensation?
3. Should it matter if the minimum wage worker is supporting a family or is a young worker trying to earn extra spending money?
4. Does it matter that a small business owner cannot afford to pay his/her workers more than minimum wage and remain in business?