Geneva Switzerland enacts $53,000 minimum wage.

Inflation gonna hit big

What was it; as in percentage increase?

It’s less likely to fail there then say the Sudan or the United States. Like others have said though, just wait until a double cheeseburger costs $25.

Geneva is a super wealthy area. 53k ain't shite out there.

Switzerland is one of the most expensive places on earth to live. My friend actually went to the Swiss Alps with his wife for a vacation and he said everything was 3 times the price you would expect.

He and his wife got value meals at Burger King at the airport and it was $35. For two combos at Burger King at the airport.

so about a $20,000 minimum wage after taxes

I bet some welfare recipients at least get that in total, with housing, food, healthcare...

That is a lot of cheese

How many people are on welfare in Switzerland?

I will say this, Switzerland has some of the tightest immigration and citizenship rules in the world. They definitely don't welcome the unwashed and financially desperate Turks, Slavs, Middle Easterners and North Africans like their European neighbors do.

The people of Switzerland are pure blooded Swiss, and some wealthy oligarchs who have bought their way in. And they are very protective of Swiss norms and culture.

I'm sure there is some neo-liberal fiscal engineering at play here but I also think part of this is to help insure the trains continue to run on time down to the second, there continues to not be a single scrap of paper on the streets and the waiters, shop keepers and blue collar support workers remain blond haired and blue eyed.

The Swiss have seen the massive demographic and cultural shifts that have happened in Frankfurt, Paris, London, Stockholm, Vienna, Rome, etc. and they want no part of it. Guaranteeing a living wage (Geneva has one of the highest COL in the world) is one way to accomplish this.