>
> As for minimum wage, I think a market economy dicatates a fair wage for a
> job done, doesnt it?
Depends on the definition of fair wage.
The classical economic definition of fair is the amount agreed upon by employer and employee in a transparent labor market. It does not concern itself with irrelevant details such as whether that would suffice for someone to feed his family. That type of 'fair wage' would be guaranteed in a functioning market economy.
A different definition might be that a fair wage is at least X dollar per hour, so that somebody who works 100 hours a week can at least afford a roof over his head and food to eat. That type of 'fair wage' is not dictated by a functioning market economy (let alone a non functioning one).
Jochem
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