Friday, 19 October 2012

3 of the 4 Richest countries in the world have no minimum wage laws.

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
 

Qatar none
 

Norway none
 

Germany no statutory minimum wage

Italy
none

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

5 comments:

  1. Your Qatar figures are incorrect, the middle eastern country drives itself based on near slave labor from immigrants who have no rights. Also if you are in the process of opening or running a business you need a local partner who pockets profits for just being the local partner unless you are based in a FTZ which if my understanding is correct, you do not need a local partner

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  2. Hello VOS

    The bottom line is, there is no minimum wage laws in Qatar. I am not defending Qatar or saying there is anything right about these Arab states.

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  3. Sweden have no minimum wage laws.

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    Replies
    1. Good on the Swede's. Considering how socialist they are, they must have got this one right by accident.

      Delete
  4. There is no minimum wage that is required by legislation in Sweden. Instead, minimum wage is set by annual collective bargaining contracts.

    ReplyDelete