Economist: The wages of many of the lowest-paid corporate employees in this country would be protected from cuts by enacting a maximum wage law that prohibits executives at any corporation from earning more than, say, 50 times what the corporation' s lowest-paid employees in this country earn  Currently, some executives try to increase corporate profits -- and their own salaries -- by cutting the pay and benefits of their corporations' employees
A maximum wage law would remove this incentive for these executives to cut the wages of their lowest-paid employees
If corporate executives could not increase their own salaries by cutting the pay and benefits of their corporations' lowest-paid employees in the economist's country, they would never change the wages of those employees.