this post was submitted on 20 Oct 2024
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List of European countries by minimum wage
Don't forget cost of living. Monaco might not be the easiest city to find affordable housing.
It's notable that the countries with no legal minimum wage are also those with the highest wages. That's because these countries have replaced laws with collective agreements. This goes to show that united workers can create better results than politicians.
It's a really unfortunate effect of minimum wage. It turns into maximum wage, because employers can point at a minimum wage and say "hey I already pay you 0.01€ more than minimum, go back to work and be thankful", whereas union wages are based on constant negotiation and actual statistics of what is paid in the market.
I really don't want my wage to be determined on country-wide politics. In my opinion, it's much more logical to let each sector determine it for themselves. Especially in times like this where right wing parties are gaining influence due to immigration issues. Why would I have to take a pay cut, because a lot of old people are afraid of immigrants? It makes no sense. Issues like that make people vote against their own interest.
The best way to put a value on work is by letting the people in the sectors decide. Both sides of the table of course. But just not political.
(I do realize that union agreements are also political in that both employers and enployee unions are democratic, but at least it's confined to that topic and to that sector.)
I agree that legislative parliaments shouldn't determine minimum wages.
Minimum wages are a safeguard against certain forms of wage theft, IMO, because the biggest stick around acts as your compulsory union.
Voluntary unions should then collectively determine minimum wages in a separate body.
I do not agree that there should be sector-specific minimum wage alone as every human being has worth and thus their time as well. This does not exclude sector-specific negotiations.