The paper "Fair Wages and Business Ethics" is a wonderful example of an essay on business. It is commonly expected and believed that all workers are end to fair wages. One of the most highlighted ethical debates in business comprises of concern on common practice perspective on whether wages should be evaluated on a fair or unfair basis. Though many people spend time expressing their views on whether their wages are fair in relation to other people's wages, supporters of free-market views claim that views on the fairness of wages are misguided because they should be based on various factors that are applicable in a free economy.
There are certain approaches used in determining the wages of employees in the market such as “ bargaining-based” approach as well as “ comparison-based” approach. There are certain ethical issues involved in salary levels where concerns like whether the basic needs and the wage of the employee match. This paper attempts to outline the concept of fair wages in relation to business ethics and standards. The idea of fair wages is related to the fact that every person deserves a decent life, a wage that would at least enable one to survive and be able to save some income for resources that he needs.
Distribution of resources should be just for every member and this area is commonly referred to as economic justice or distributive justice. Further many people argue that a society that is economically justice is one which provides its citizens with an equal share of resources that can enable them to obtain basic necessities, get a proportionate share of his or her productive input in relation to the market demand.
In a distributive justice, the employee is guaranteed his wages and benefits after the negotiation that takes place between the employee and the employer and this leaves both parties with biding contracts that are supported by the law (Machan and Chesher, 2002). In the job market, it is believed that the minimum wage is mostly determined by the employee. A minimum wage can be said to be the lowest amount of wage that an employee is a will to accept prior to employment and this varies from one person to another.
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