Abstract

The weakening of mechanisms for international cooperation within the context of the right to minimum wage can be explained by the increasing power of new players, the transnational corporations on the one hand, and the waning of the power of the state, on the other hand. These processes of globalization produce various challenges to the modern welfare state, such as the ability to attain minimum wage. This right is vital particularly to weakened workers that would otherwise be remunerated at a very low wage, which could likely lead to poverty. This right poses, however, numerous challenges, in particular the ability of international labor law to define it across borders. The article describes three models for defining this right: the existential deficiency model, the welfare model, and the comfort model and analyzes the various forms regulating the right to minimum wage in international regulations, state regulations, and codes of conduct of transnational corporations examining the ramifications of globalization within the context of labor rights. Moreover, the article suggests changes to international labor law, required to ensure that it functions as an effective instrument in protecting labor rights and proposes establishing regional parliaments—a supra-governmental body—composed of states and a broad array of interested private parties in its activities to establish fundamental principles relating to various areas of life, such as the basic rights of workers, taxation principles, and principles for protecting the environment. These regional bodies would decide which of the various models used for shaping the right to minimum wage should be adopted as a fundamental principle