Why Is There a Minimum Wage?

The video explores the history and evolution of the minimum wage, starting from its inception in the 19th century to its implementation in various countries. It highlights the role of labor movements and strikes in shaping minimum wage laws, particularly in the US, where the Fair Labor Standards Act of 1938 established a federal minimum wage. The video also discusses the current state of minimum wage laws, ongoing debates about wage increases, and the impact of these laws on workers and industries.

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