As part of the BRRIDGE Lecture Series, the Faculty of Economics at Matej Bel University had the honor of welcoming Prof. Martin Kahanec, who delivered an insightful lecture on “Global Benchmarks for a Decent Life: Validating a Decent Wage Against the Minimum Wage and Other Adequacy Standards.”

Prof. Kahanec explored the global mission for a living wage, emphasizing the need for a harmonized methodology to collect data and calculate decent wages worldwide. He discussed the validity testing of this approach, ensuring that wages are sufficient to provide a decent standard of living for workers and their households.

Why This Matters

The lecture underscored the importance of addressing in-work poverty, a critical challenge in achieving the UN Sustainable Development Goals and upholding universal social rights. A key highlight was the introduction of a harmonized methodology that enables reliable international comparisons across 173 countries and over 2,700 regions, while accounting for diverse household structures, economic conditions, and institutional differences.

Prof. Kahanec’s research identified a structural break at the Living Wage threshold, where incomes are most effective in reducing deprivation and improving well-being, beyond this point, however, marginal benefits decline significantly. His findings confirm that the Decent Living Wage serves as a more accurate benchmark for economic well-being than current minimum wage standards.

By focusing on decent wages as a key policy indicator, this research provides critical insights for policymakers, economists, and social advocates striving to ensure fair wages and economic equity worldwide.

A sincere thank you to Prof. Kahanec for sharing his expertise and contributing to this vital discussion!