This post is going to be short and sweet. If you are ever debating your communist/socialist/Marxist friends then this post might come in handy. Can the free market properly price labor ?
List of countries with no minimum wages laws
Singapore no laws or regulations
Germany no statutory minimum wage
Top 4 richest countries in the world per capita. (World bank)
1 Qatar 98,948 2011
2 Luxembourg 80,559 2011
3 Singapore 59,710 2011
4 Norway 53,396 2011
Other banana republic slave states with no minimum wage laws...
17 Germany 38,077 2011
29 Italy 30,464 2011