Mindestlöhne

Mindestlöhne, often translated as minimum wages, are legally mandated lowest hourly rates that employers can pay their workers. The primary goal of a minimum wage is to protect low-wage employees from exploitation and ensure a basic standard of living. It is a policy tool used by governments worldwide to address income inequality and poverty.

The concept of a minimum wage emerged in the late 19th and early 20th centuries, gaining traction as a response to the harsh working conditions and low pay prevalent during the Industrial Revolution. Countries like New Zealand and Australia were among the first to implement such regulations. Today, most developed and many developing nations have some form of minimum wage law.

The level at which a minimum wage is set is often a subject of debate. Proponents argue that it boosts the spending power of low-income households, stimulates the economy, and reduces reliance on social welfare programs. They also contend that it can improve worker morale and productivity. Critics, however, express concerns that a high minimum wage could lead to job losses as businesses cut staff to offset increased labor costs, or that it might cause prices to rise, leading to inflation. The impact of minimum wage policies is a complex economic issue with ongoing research and varying empirical findings.