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Six Countries with No Minimum Wage
- quantified 3y agoEarly on, points out that strong labor protections and union power is the key. Good to see that the capitalist prefers unions!
- dotcoma 3y agoFunny how they list Sweden, Norway, Denmark, Singapore, Hong Kong, and Austria, but instead of the last two, ‘review’ Switzerland and Iceland instead.
- pvdoom 3y ago> Let any market work on its own, and basic economics says that it will organize, balance, and regulate itself based on basic concepts like supply and demand. For countries like Denmark and Sweden this is definitely not how it works. In Scandinavia the unions are really powerful, and even if there is no official minimum wage, there is in practice unofficial one, driven by said unions. > There’s one thing that the best economies in the world have in common: low government involvement. Also this is plain wrong. Quite the opposite.