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While McDonald's workers in America can expect to make $9.90 an hour starting July 1, McDonald's workers in Denmark can earn up to $21 an hour, with the average full-time employee raking in $45,000 a year before taxes. Even though Denmark doesn't have a national minimum wage law in place, fast food workers are required to earn a minimum of $20 an hour due to an agreement between Denmark’s largest union and Danish employers organization, Horesta. Even though Denmark's high tax rates leave fast food workers with roughly $28,000 a year after deductions, that's still more than the average full-time McDonald's worker earns annually.
To be like Denmark we'd need for everyone to be in a union.
Consequently they don't need a MW because the unions set floor wages that are higher than $15/hr. There are a lot of countries like that.
I couldn't get past one hand counting countries where the wage floor is higher than $15 an hour. Hmm while we're at it Switzerland, Norway, Australia, Sweden, Denmark. That's it haha. Still the GDP per capita of these countries is similar to the United States. The US can do better than 7.25 an hour imo.
Also some other developed countries that don't have a minimum wage are:
Iceland,Sweden, Norway,Switzerland
How does Denmark deal with the homeless and low-wage workers seeking affordable housing? Are mom-and-pop businesses with three employees required to hire union labor?
Last edited by yellowbelle; 05-10-2016 at 10:14 AM..
Reason: quoted post has been moderated
That won't do no good here man. With no minimum wage most of these up to no good companies will just pay even less. Try living on 1 or 3 dollars a hour. That's what would happen with no min wage.
That won't do no good here man. With no minimum wage most of these up to no good companies will just pay even less. Try living on 1 or 3 dollars a hour. That's what would happen with no min wage.
I doubt it , and if there are people that want to work for that little they should be able to. Realistically nobody is going to work for 1-3 an hour. Even illegal immigrants in an expensive city like Los Angeles don't work for $1-3 an hour.
I doubt it , and if there are people that want to work for that little they should be able to. Realistically nobody is going to work for 1-3 an hour. Even illegal immigrants in an expensive city like Los Angeles don't work for $1-3 an hour.
You don't understand how this works. Illegals make >$3/hr *because* non illegals are making >$7. Incidentally, a higher MW will definitely give the illegals a greater incentive to cross the border!
In the absence of any other influence, wages adjust according to supply and demand. Low skilled workers are naturally never in short supply, so their wages naturally rest at subsistence levels (or even less if there are no other options). If you let the floor wage fall that low it effects wages all through the economy, ie higher skilled jobs pay more than subsistence but are still low. What you end up with is a poor country where consumer capitalism can't get off the ground.
That's why every single developed country in the world has extensive wage supports and wealth redistribution. Consumer capitalism works best if prosperity is fairly evenly shared.
If Denmark is so great then why does it have negative interest rate for 4 years in a row?
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