Gesetzliche Mindestlöhne im post-keynesianischen Paradigma

Hansjörg Herr

WSI-Mitteilungen, 2017, vol. 70, issue 7, 515-522

Abstract: From a post-Keynesian point of view, the author argues that statutory minimum wages fulfil different functions in different countries. Firstly, they can give an orientation for the general wage development. Secondly, they can reduce wage dispersion from below. In order to stabilise wage development and support a nominal wage anchor, in both cases minimum wages should at least be increased according to medium-term productivity development and the desired inflation rate. If minimum wages compress the wage structure from below or prevent a large low-wage sector they contribute positively to aggregate demand and employment. Via different mechanisms minimum wages contribute to productivity increases and increase the chance of future prosperous development. In case of substantial compression of wages from below the structure of prices changes as well as the structure of consumption and production. Overall, minimum wages do not lead to negative macroeconomic employment effects, as sometimes expected. The opposite is the case. Minimum wages contribute to the stability of the economy and help to create or defend an inclusive society.

Date: 2017
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DOI: 10.5771/0342-300X-2017-7-515

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