Peter wrote:
> Minimal wages are a necessary evil in countries where the free market (aka 
> the
> invisible hand) does not work, for whatever reason.

There are other ways to address the "social injustice". The problem I have 
with minimum wage, is that it makes it look like the government is doing 
something good, but in reality is pushes the cost on (mostly) small 
businesses, and it doesn't solve the problem. Not only does it create 
unemployment among the poorest people, it hurts them in other ways as well. 
It contributes to crime (think of all those teenagers with nothing to do), 
and the poor folks end up paying more for food and other necessities.

> Communist and Capitalist
> countries both need it. If the invisible hand would be left alone then 
> minimal
> wage laws would not be needed. If the invisible hand cannot work, for 
> example
> because the borders are closed (inwards and/or outwards), or because there 
> are
> restrictive union or other trade association laws, and the workforce 
> cannot
> migrate (or organize, when it is pushed too far) legally, then the minimum 
> wage
> law is needed to prevent slavery-like conditions, and labor wage dumping. 
> It is
> probably not an accident that there are no minimum wage laws in most 
> advanced
> countries where the freedom to migrate and to organize is taken for 
> granted.
> They are not needed.

I wasn't aware such countries existed. Can you name a few?

VItaliy 

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