A recent report on World Economic Forum has listed Australia as having the highest minimum wage around the world.
Rising inequality has been discussed extensively in many countries, especially developed nations as relative poverty has become a widespread issue. Hence, minimum wage plays a vital role in ensuring that economic growth would benefit not just a group of people but as many people as possible.
The following graph shows minimum wages around the world in 2013, adjusted to their after tax rate and purchasing power parity.
A substantive minimum wage not only allow citizens to maintain their livelihood but also provide a safer living, study and working environment. This is the result of people being able focus on what they love to do instead of the daily worries about how to feed their family.
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