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.
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.
2 comments:
I had heard that Minimum price on books is a law in France - now applicable for e-books also.
https://gigaom.com/2011/05/19/419-france-lets-book-publishers-fix-minimum-e-book-prices/
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.
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