What is Minimum Wage

A minimum wage is the lowest remuneration that employers can legally pay their employees the price floor below which employees may not sell their labor. Most countries had introduced minimum wage legislation by the end of the 20th century. Because minimum wages increase the cost of labor, companies often try to avoid minimum wage laws by using gig workers, by moving labor to locations with lower or nonexistent minimum wages, or by automating job functions. Minimum wage policies can vary significantly between countries or even within a country, with different regions, sectors, or age groups having their own minimum wage rates. These variations are often influenced by factors such as the cost of living, regional economic conditions, and industry-specific factors.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Minimum wage

Chapter 2: Labour economics

Chapter 3: Unemployment

Chapter 4: Full employment

Chapter 5: Phillips curve

Chapter 6: Employment

Chapter 7: Living wage

Chapter 8: Efficiency wage

Chapter 9: Frisch elasticity of labor supply

Chapter 10: Minimum wage in the United States

Chapter 11: Employment protection legislation

Chapter 12: Involuntary unemployment

Chapter 13: Monopsony

Chapter 14: NAIRU

Chapter 15: Employment Policies Institute

Chapter 16: Alan Manning

Chapter 17: Fight for $15

Chapter 18: Minimum Wage Fairness Act

Chapter 19: Francis Kramarz

Chapter 20: Seattle's minimum wage ordinance

Chapter 21: Wage growth

(II) Answering the public top questions about minimum wage.

(III) Real world examples for the usage of minimum wage in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Minimum Wage.