I did not know there were any major industrial countries without a minimum wage and here is Germany. A major social democratic country with no government mandated minimum wage for its employees. Employees, through their representatives (the Unions) and employers work out what the job is worth. It is an interesting concept, one posited many times by Milton Friedman, for employees to get paid what they are worth.The problem in America now days is people have an inflated value of what they are worth. This is where my three rules of personal economic growth come into play. 1. Develop a skill. 2. Develop a work ethic. 3. Elect only those officials that support economic growth through free enterprise. Still it is interesting that here is Germany with no minimum wage, people not starving in the streets and somewhere in the article it talks about England not having a minimum wage until 1998.
Posted on: Sun, 10 Nov 2013 13:54:37 +0000
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