The Concept of a Living Wage

A living wage refers to a fair income that enables individuals to lead comfortable lives, afford basic necessities like nutritious food, education, healthcare, and housing. It ensures financial independence and reduces the need for public assistance, drawing a clear distinction between survival income and a wage that fosters overall well-being. While companies prioritize profits and often pay based on perceived labor contributions, governments have intervened by enforcing minimum wage laws to guarantee a basic income level.