The Economic Theory of a Legal Minimum Wage
@article{WebbTheET,
title={The Economic Theory of a Legal Minimum Wage},
author={S. Webb},
journal={Journal of Political Economy},
volume={20},
pages={973 - 998}
}The fixing of a Minimum Wage by law?making it a penal offense to hire labor at a lower rate than that fixed by the law? is now an accomplished fact, of which the world has had half a generation of experience. In this matter of the Legal Minimum Wage the sixteen years' actual trial by Victoria is full of instruc? tion. Victoria, which is a highly developed industrial State, of great and growing prosperity, had long had Factory Laws, much after the English fashion. In 1896, largely out of… CONTINUE READING
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