Wages are market-driven. That means they do not reflect the true value of any position, only what the market can get away with paying. Left to the market, wages would be rock bottom for all workers—even zero. So, in a market economy minimum wage is a legislative requirement for all civilization.

Not being paid the value of the work done, is painful enough. But it doesn’t hurt anyone more than the people who are collecting only minimum wage.

Full show notes available on www.FixingTheWorld.ca