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0 sats \ 0 replies \ @Solomonsatoshi 4 Jan \ parent \ on: Help me understand minimum wage logic better econ
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.