The paper explores the concept of minimum wage as a fundamental economic regulation that mandates employers to pay employees a baseline remuneration, unaffected by individual contracts or collective agreements. It highlights the role of minimum wage in promoting equal pay across diverse demographics and notes that 90% of countries have established minimum wage laws. In contrast, some nations like Sweden and Denmark rely on collective bargaining to determine wages. The historical context is provided, mentioning New Zealand as the pioneer in implementing minimum wage legislation in 1894.
