Living wage and business ethics

Book chapter

Werner, A. 2020. Living wage and business ethics. in: Poff, D. and Michalos, A. (ed.) Encyclopedia of Business and Professional Ethics Cham, Switzerland Springer.
Chapter titleLiving wage and business ethics
AuthorsWerner, A.
Abstract

The Living Wage (LW) is based on the idea that workers (and their dependents) should be able to afford a basic but decent living standard from the wages they earn. The LW is a “relative” concept as it is set by the standards of the community in which the workers live and work (Stabile 2008). It is to be contrasted with the National Minimum Wage (NMW), a “wage floor,” which stipulates the minimum pay per hour to which workers are legally entitled. NMWs are not necessarily living wages, as in many national contexts they are rather cautiously set so as to ensure affordability for businesses and not to “undermine” economic competitiveness. [...]

KeywordsFair wage, just wage, subsistence wage
Book titleEncyclopedia of Business and Professional Ethics
EditorsPoff, D. and Michalos, A.
PublisherSpringer
Place of publicationCham, Switzerland
ISBN
Electronic9783319235141
Publication dates
Online30 Oct 2020
Publication process dates
Deposited11 Feb 2021
Submitted15 Jul 2020
Accepted25 Aug 2020
Output statusPublished
Web address (URL)https://link.springer.com/referenceworkentry/10.1007/978-3-319-23514-1_1228-1
Digital Object Identifier (DOI)https://doi.org/10.1007/978-3-319-23514-1_1228-1
LanguageEnglish
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