The challenge with having good worker protection laws and high minimum wage is that at some point local labour becomes less competitive with foreign low cost options. Then you'll need tariffs or other import rules to keep your local industries alive.
Those things can also be part of law, see Europe.
The challenge with having good worker protection laws and high minimum wage is that at some point local labour becomes less competitive with foreign low cost options. Then you'll need tariffs or other import rules to keep your local industries alive.