Difference between revisions of "Minimum wage"
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| − | '''Minimum wage''' refers to the lowest legal wage that an employer may pay their workers. More than 90% of countries in the world have minimum wage laws. | + | '''Minimum wage''' refers to the lowest legal wage that an employer may pay their workers. More than 90% of countries in the world have minimum wage laws. Economic conservatives tend to oppose increases in the minimum wage on the grounds that in a free market, the price of labor, like any other commodity, should be set by negotiations between the buyer and seller without undue interference from the state. |
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[[category:economics]][[category:politics]][[category:law]] | [[category:economics]][[category:politics]][[category:law]] | ||
Revision as of 18:14, May 26, 2007
Minimum wage refers to the lowest legal wage that an employer may pay their workers. More than 90% of countries in the world have minimum wage laws. Economic conservatives tend to oppose increases in the minimum wage on the grounds that in a free market, the price of labor, like any other commodity, should be set by negotiations between the buyer and seller without undue interference from the state.