Salarium Minimun 23

TL;DR

The word 'salary' originates from 'salarium,' referring to salt, which was crucial for food preservation and was used as currency and an antiseptic in ancient times.
During the Middle Ages and industrialization, salt's role as currency diminished, replaced by precious metals, and it became primarily an ingredient in food processing.
Historically, there was no concept of a legal minimum wage; workers in slavery, serfdom, and feudal systems often received only basic living provisions.
Legal minimum wages were established in the United States in 1912 and Colombia in 1945, with further unification of concepts in Colombia in 1983.
Economist Joan Robinson's concept of 'Monopolistic Equilibrium' describes how producers can set a single price for a wage market, similar to commodities like oil or gold.
Nobel laureate David Card's research suggests minimum wage increases can lead to reduced employment and higher unemployment.
In Colombia, a significant portion of the population earns the minimum wage, and recent substantial increases can impact businesses and the financial health of workers.
While higher earners may not struggle with the direct wage increase, their purchasing power can be affected by inflation (IPC).
Business conglomerates can absorb salary increases through financial profits, but these profits are vital for national development.

Weiter zum Originalartikel