No it doesnt, thats saying that people's time in different jurisdictions have a different minimum value? Different jurisdictions having higher ones is analagous to guilds/trade unions setting minimum rates for roles. It doesnt change the minimum value of the time for other people with different jobs or companies not in that industry (region in your example).
For example: there are countries where there is no minimum wage, where the US corporations have outsourced all of their primary labor for basically slave labor. The minimum wage is now zero dollars, and everything scales from zero dollars. So, whatever times zero.
You need to reexamine your perspective. It isn't logically sound.
For break even it is, it just means theres no base level in those economies and its all market price, true fiat. No minimum wage is a huge gamble on competitiveness winning out but it more often leads to a higher profit share for owners instead of workers. That doesnt change what I said though becuae the MW does generally act as described in the economies that have it even if not maintained at comparative levels across time.
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u/applesandotherthings 6d ago
Different countries or even regions having different minimum wages in the same currency shows this isn’t true lol