Minimum wage laws

Wages can as the cost of manual labour. This is the monetary rewards received an individual for the work or service to an employer. A minimum wage is the lowest wage that is defined by the law and can in hourly, daily or monthly rate be expressed. Employers and workers in a country that that minimum wage laws are legally obliged to buy work in the currency of the relevant legislation laid down and sell. Viewing labour as a commodity, so laws make minimum wage form market determines the price of the floor of one of the most important factors of production. Origins and history of protein extraction polymerization idea the minimum wage is connected to the concept of fairness in the distribution of income. It is a way to achieve a fair distribution of income by the reorganization and the creation of the wage structure in legislation. The first attempt on wages to adopt was in 1896 in the country. However, was to specify this time no minimum wage. Instead, the structure of mediation of labour disputes have been created. Is that a minimum wage actually first Australia 1907 defined by the law. In the history of minimum wage laws are rules often narrow in scope. Applied to only certain sectors or certain categories of workers. 1912, United States, such as minimum wage had only for women and children established and Massachusetts has been carried out exclusively by the State. In 1938, laws on minimum wage with a national scope adopted Government finally. The concepts of the minimum wage and minimum wage laws are in fact relatively new. Industrialized countries in Europe and North America your created in the twentieth century. In Asia, the Republic of Chinajust created your first Bill minimum wage in March 2004.ActorsIn of capitalist economic system, there are typically three main players or groups in establishing the minimum wage laws involved. Gouverner.ment wrote, adopt and enforce laws. The second major group comes from the economy. This generally consists of entrepreneurs in employers. The third group is removed from the workspace and there trade unions and larger organizations. These three players lead usually their negotiations within the structure of a tripartite system often centrally in an institution such as a Council salary or the Council, whose members were representatives of the three main groups. Agreed proposals or changes in the minimum wage would then be forwarded to the legislative branch of Government or other relevant government agencies as a Ministry of labour and employment.DetractorsThose that contrary to the concept of minimum wage often use conventional economic models pointed out, that the creation of a minimum wage would lead to unemployment. Handling would reduce manpower as goods and wages as its price, to set a high minimum wage in force, demand (employers consider workers of less) and boost provides .SupportersThose (more unemployed workers), support the principle of the minimum wage, on the other hand, criticize the traditional economic view labour market says, it's already an imperfect competition between employers and employees. Since workers (those who sell their work) and employers (those who work to buy), employers have the advantage that requirements such as such as pay low LöhneRes. A minimum wage law would be a way even field.Informal WageNot minimum all countries have play minimum wageLaws. In countries you have, it is possible that not all sectors of the economy are covered. For example, workers in services and agricultural workers possible from sectors not included in the minimum wage rules are independent. In such cases a minimum wage can be set, but instead of the laws of the State, by customs or non-legal pressure, could perhaps unions or social and civic organisations set officials.