Wages in the Maritime Industry
This is an excerpt from the paper...
International trade has received much attention recently as the impact of the Internet and other advances in technology and shipping have made it possible to ship goods throughout the world effectively and efficiently. However, international trade has been in existence for thousands of years, and as nations began shipping goods on the high seas (an efficient way to transport large quantities of goods over long distances), problems began to arise. If a ship flying a Greek flag with a Spanish captain and Portuguese crew carrying a cargo from Italy encountered problems in a French port, which nation's laws should have jurisdiction? It was from this need to regulate and protect international shipping that maritime law was developed. The tradition and regulations associated with maritime law remain in force to this day, and maritime law remains one of the oldest examples of international law in existence. This research considers the unique aspects of the maritime industry and one area of maritime law, wages, in relation both to the industry itself and in relation to economic theory.The merchant marine industry can be equated to the trucking industry, with the difference that many merchant vessels are involved in international trade. Similar to trucks on land, merchant vessels carry a particular cargo from one point to another, and receive payment based on each voyage. Some vessels are specialized (such as oil tankers and automobile tra
. . .
d. There is, for example, an absolute wage that is paid to workers. That wage is, however, only one component of labor costs. In addition, there are insurance costs and medical benefits, other fringe benefits, additional overhead and payroll taxes which are rarely revealed to individual workers. Also, each worker has a specific skill set which is likely to be different from any other worker, even in the same job category. Some skills, such as the ability to operate certain equipment, can be quantified and labor suppliers and labor consumers can base their decisions on those job classifications. Other skill sets, such as native intelligence or ability to get along with others, cannot be quantified (Ginzberg, 1976).
Those who support a minimum wage maintain that the market is not capable of setting wages because employers have an unfair advantage over employees. If the market is left as the only mechanism for setting wages, wages will be set below the price clearing level, with the result that people who want jobs will not be able to get them (unemployment) and people who are able to get jobs may not be able to receive as much income as they desire, or as they would be able to generate in a perfectly competitive market (unde
. . .
Some common words found in the essay are:
Subsidies Manufactured, US$435 US$450, Panama Liberia, Maritime Industry, Introduction International, minimum wage, April Minimum, July-August Minimum, ship owners, References Concern, Organisation ILO, Transportation Review, mazur 1995, maritime industry, maritime law, williams 2001, minimum wages, international law, merchant vessels, vessels carry, seamen's wages 2001, argument minimum wage, increased minimum wage, makes difficult enforce, minimum wage results,
Approximate Word count = 1633
Approximate Pages = 7 (250 words per page)
More Essays on Wages in the Maritime Industry
|
Customer Service
to Over
32,000 Professionally Written Papers!!!
