“Minimum wage is the lowest possible rate employers can pay employees. The legal provisions concerning minimum wage exist in most of the countries nowadays. The first laws with regards to minimum wage were implemented in the 1980s, in Australia and New Zealand. Minimum wage is a subject of an ongoing debate. There are different opinions as to the positive and negative aspects of the minimum wage.”
Not that long ago, a website Insider Monkey has published an article on 11 countries with the highest minimum wage in the world in 2017. Minimum wage is not something theoreticians have a unified opinion on. (As if there is a unified opinion on anything nowadays.) In the introduction, the article offers an overview of the arguments used by the proponents and opponents of the idea of minimum wage. My personal views coincide with those of the proponents of minimum wage. I empathize with poverty-stricken populations of society and believe that a higher minimum wage brings about an improvement in the quality of their lives. It makes it easier for them to cope with the struggles of capitalism. The first legal provisions with regards to minimum wage were introduced in Australia and New Zealand in 1980s. Some of the most prosperous countries in the world have adopted the law on minimum wage, indicating that they prioritize workers’ rights. Australia was the country with the highest minimum wage in the world in 2016. Luxembourg is one of the European countries with the highest minimum wage. To create the list of 11 countries with the highest minimum wage in the world in 2017, the data provided by the Organization for Economic Cooperation and Development and by the Eurostat were used. Furthermore, in order to do a proper analysis of the laws on minimum wage, the data provided by the official institutions of the countries on the list were used. Is your country grouped among those with the highest minimum wage in 2017? To find out, check out the article on 11 countries with the highest minimum wage in the world in 2017 and let me know what you think.