The Economic Theory of a Legal Minimum Wage

  title={The Economic Theory of a Legal Minimum Wage},
  author={Sidney Webb},
  journal={Journal of Political Economy},
  pages={973 - 998}
  • S. Webb
  • Published 1 December 1912
  • Economics
  • Journal of Political Economy
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… 
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