re: Geneva Switzerland enacts $53,000 minimum wage.

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There will be much, MUCH more $$$ than goods and services available to purchase with that $$$. AKA: Runaway inflation.

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Since this isn’t a very significant increase from current levels and impacts a small percentage of the local population, it’s highly unlikely that it will cause a major increase in inflation, especially since low inflation has been more of a problem and with the pandemic the near-term risk is deflation.

Not to mention, if prices rise locally due to excess demand locally, a lot of things can just be bought elsewhere instead where prices aren’t rising as much.

If they raised the minimum wage to $25 in some low or average cost of living place in the United States, you would likely see this happen (particularly as labor costs increase), but the increase to $25 in Geneva is a lot different since the baseline is so much higher.