Minimum wages: process and rationale in three neo-liberal settings

Minimum wages remain a feature of advanced economies. Even in countries with neo-liberal policy settings, the minimum wage remains. Why, in a neo-liberal context, are minimum wages retained? To consider these issues we examine Australia, the UK and the USA. We also examine the processes associated with minimum wage adjustment including coverage, enforcement, frequency, determination criteria and timing. On these issues we demonstrate some major differences across the minimum wage systems.