Wednesday, February 10, 2016

Minimum Wage

I was thinking if a government decides upon minimum wage then it has to set Minimum Retail Price for the products of those labourers. Then I came across the following Wikipedia article;
Resale price maintenance

However, that law doesn't seem to be from the minimum wage angle. I don't know whether such laws exist in India too (We have Maximum Retail Price). I suppose Minimum Retail Price would ensure, the imported goods cannot undercut local goods with pricing war.

I guess developed countries need Minimum Retail Price whereas developing countries Maximum Retail Price.


SHE said...

I had heard that Minimum price on books is a law in France - now applicable for e-books also.

Manju Edangam said...

I suppose that makes sense. I believe minimum wage in a relatively welfare society like France tend to be healthier. Unfortunately, many of the books might not have editions for the developing countries and probably laws like these would be a blow for us in such cases.