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21 sats \ 3 replies \ @Undisciplined 4 Jan \ parent \ on: Help me understand minimum wage logic better econ
Libertarians cannot point to any advanced and wealthy economy where there is no minimum wage

Here you go: https://www.investopedia.com/articles/investing/080515/5-developed-countries-without-minimum-wages.asp

I guess you have to abandon that talking point now.

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91 sats \ 1 reply \ @stack_harder OP 4 Jan

king daddy socialist utopia Sweden has entered the chat lol

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0 sats \ 0 replies \ @Solomonsatoshi 4 Jan

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0 sats \ 0 replies \ @Solomonsatoshi 4 Jan

Did you read the link? All 5 of these exceptions to the rule ( Sweden, Denmark, Iceland, Norway and Switzerland) have STRONG UNIONS high and progressive taxes and strong welfare provisions so the usual disadvantage in negotiating power is not present removing the logical need for a minimum wage. These are not exemplar Libertarian nations these are the COMPLETE opposite and only because of their strong welfare and strong unions is the need for a minimum wage actually removed! Your link thus strengthens my argument overall especially regarding the general tendency for low wage workers to not have a strong negotiating position with employers.

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