how do you determine that if not at what the market sets it at?

trentnix · on July 15, 2019

There is no other way. The market ALWAYS sets it, no matter how strong it’s regulated. The real minimum wage is zero.

dgacmu · on July 16, 2019

But the regulation strongly influences what the market will pay. The trend of allowing companies to have employees sign non-competes for relatively low skilled jobs, for example, depresses wages by impeding competition for labor.