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Published on Thursday, January 30, 2020

Toward a More Comprehensive View of the Minimum Wage

When increases in the minimum wage are determined based on the evolution of productivity and employment, a high minimum wage reflects—in the long-term—the good health of the economy, competition in its markets, its productive capacity and a high standard of living.

Key points

  • Key points:
  • When increases in the minimum wage are determined based on the evolution of productivity and employment, a high minimum wage reflects—in the long-term—the good health of the economy, competition in its markets, its productive capacity and a high standard of living.
  • In this relationship between per capita income and minimum wage, the dynamics between the two variables matter — they can even be crucial.

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