Arguments in favour of a minimum wage mostly hang on the idea that firms have a responsibility to ensure that their workers earn enough to live on. If a firm can’t pay its workers enough to live on, then it isn’t a viable business, because it is dependent on wage subsidies. Of course “enough to live on” depends where you live: the cost of living in London is considerably higher than it is in, say, Newcastle, so a minimum wage that would give a reasonable standard of living in Newcastle is starvation level in London. The campaign for a voluntary Living Wage tries to persuade firms to pay above the current UK minimum wage, which is perceived as being below the real cost of living.
Privatise is transfer a business from public to private ownership and control.
Social insurance is a concept where the government intervenes in the insurance market to ensure that a group of individuals are insured or protected against the risk of any emergencies that lead to financial problems.
In the 1972 Olympics, Mark Spitz won 7 gold medals for 100m Butterfly, 100m Freestyle, 200m Butterfly, 200m Freestyle, 4×100m Freestyle Relay, 4×100m Medley Relay, and 4×200m Freestyle Relay.
No bc Congress makes all the decisions.... for example, the President can try to make a law, but the Congress an veto it
