

#553 | A Short History Of The Minimum Wage
4 snips Jun 19, 2025
Discover the surprising origins of minimum wage laws in Australia and New Zealand. Uncover how these laws have evolved and sparked debate in places like the UK and US. Explore arguments for and against minimum wage, weighing its impact on vulnerable workers and businesses. Learn about regional variations and the complexities of setting a uniform wage against differing living costs. Finally, hear diverse opinions on how minimum wage policies shape the economy and influence wage growth.
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First Minimum Wage Job Experience
- Alastair Budge shares his first job paying £4.25 an hour, the UK minimum wage in 2005 for under 22s.
- He worked long pub shifts, showing the minimum wage as a practical starting point for young workers.
Government Raised Lowest Salaries
- Before minimum wage laws, wages were market-driven and employers often paid the bare minimum.
- Government wage laws helped raise lowest salaries and improve living standards globally.
Minimum Wage Origins in Australia & NZ
- Australia and New Zealand pioneered minimum wage laws due to social concerns about worker poverty.
- The 1907 Harvester Case set wages to support a family of five living in frugal comfort.