Basic basket 2019, background, comparative and methodological proposal

Abstract

The level of wages as the price of labor has been the subject of extensive discussion; Neoclassical theories maintain that it should be the market that adjusts the levels, while critical theories point out the negative effects that this can have, so the State should, at least, set a minimum amount of remuneration. If we assume the first position, wages should be a function of productivity; If we assume the second, we must face the problem of what that amount should be.

In theoretical terms, the salary should be sufficient for the reconstitution of the labor force and for the reproduction of class, for which reason the amount is associated with the price level of the goods that are indispensable to the worker for these purposes. The Political Constitution of Mexico states in the second paragraph of section VI of article 123 that wages must be sufficient for a head of the family to cover his needs in the material, social and cultural order, as well as to provide education for his children .

In this sense, this work proposes a methodology to integrate the amount of the indispensable salary of a head of the family, starting from building a basic basket made up of a food basket and a non-food basket. In the first part we present theoretical background to the construction of the basket and in the second part we show the corresponding calculations for a price level of December 2019.