reply on: Help me understand minimum wage logic better \ stacker news ~econ

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0 sats \ 3 replies \ @stack_harder OP 4 Jan \ parent \ on: Help me understand minimum wage logic better econ

interesting points, i think some countries dont have a min wage per se, but like unions that do the price negotiating, no?

14 sats \ 1 reply \ @Bell_curve 4 Jan

Singapore has no minimum wage or very low

Maybe Hong Kong also

0 sats \ 0 replies \ @Solomonsatoshi 4 Jan

Have you seen the living conditions in the immigrant worker camps in Singapore and their workplace conditions?

Would you want to be one of those workers?

They are tantamount to slave labour.

Is this the Libertarian dream?

Note - Singapore does technically have minimum wages but set at slave labour levels...designed to enable use of temporary foreign workers at very low cost poverty level incomes.

10 sats \ 0 replies \ @Solomonsatoshi 4 Jan

Yes as the link provided by @Undisciplined states The Nordic nations and Switzerland who have strong welfare and unions do not have minimum wages as they could argue they don't need one as low wage workers have adequate negotiating power via unions and protections from unemployment via welfare and are thus not forced into working for poverty level wages. Interesting and hilariously ironic that Undisciplined cannot give any other example of a developed economy where the minimum wage is not in place...except where the very antithesis of Libertarian ideology is practiced!