Showing posts with label Switzerland. Show all posts
Showing posts with label Switzerland. Show all posts

Saturday, May 17, 2014

Minimum Wage=$25 An Hour?

Is Switzerland poised to have a minimum wage of $25  an hour? It will be interesting to find out. If they do, we could finally see exactly how much of an effect raising the minimum wage would have on unemployment and inflation. Could the effect turn out to be negligible because wage increases lead to a rise in aggregate demand that exceeds layoffs? Thus negating any layoffs and/or inflation?

Regardless, the article notes how much of an effect discussions of raising the minimum wage are having.

Supporters have something to show whether it passes or not: Some large companies such as clothing retailer H&M and supermarket chain Lidl have already agreed to raise their wages to the proposed minimum.

The same thing is happening here and will likely increase as the wealthy of the United States are realizing just how much of a destabilizing effect inequality has on our country.