The minimum wage system works - but that's just luck
Published 14/05/2015 | 02:30
IF I'd known the bus was coming, I'd have waited. Just a couple of weeks after trekking through the undergrowth of low wages and living wages, along comes a shiny new vehicle from the OECD with "Minimum Wages" on its destination blind.
As it says, minimum wages - let's call them MWs for short - are common, with 26 of the 34 members countries setting legal minima for pay, and the USA having one of the first.
That is just one of many surprises in the report. A bigger one is that the Nordic countries are among the eight who do not have statutory minimum wages; and that the most recent OECD country to impose one is Germany.