The government should set a fair wage based on market dataWe cannot rely on the market to fix wages. The market wages depend largely on bargaining power. The worker is at a weaker position relative to the employer and has to accept a wage that is lower than a "fair rate".
To overcome this weakness, the workers have to join a trade union and bargain for better wages and working conditions. In some cases, they have to go on strike. This is a destructive process.
What is a better way?
The government can use the data of the wage levels for different occupations fix the recommendation wage for each occupation and skill level. This is a "fair wage" and takes into account the supply and demand for the occupation. It overcomes the distortion caused by the relative bargaining power.
When I describe this system to a friend, he asked - are you advocating a communist system?
I replied - I am advocating common prosperity.