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Posted on 10/5/20 at 10:51 pm to JCdawg
quote:
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.
A cheeseburger already costs $25 in Geneva. You’re going to see a massive influx of workers and wages will never rise. How do you keep businesses from paying in cash to people who want to work for 10-20% below minimum wage?
Posted on 10/5/20 at 10:55 pm to SEC7070
How many people are on welfare in Switzerland?
Posted on 10/5/20 at 11:04 pm to Who_Dat_Tiger
quote:
How many people are on welfare in Switzerland?
~270,000 or roughly 3.15% of their population.
Posted on 10/5/20 at 11:17 pm to SEC7070
Drove to Zurich once and not a fan everything is retarded expensive.
Posted on 10/5/20 at 11:23 pm to SEC7070
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.
Posted on 10/5/20 at 11:34 pm to SEC7070
I travel to Switzerland a few times a year for work, they aren't part of the EU and don't have open borders like how you're implying.
Posted on 10/5/20 at 11:54 pm to Mo Jeaux
quote:
Why is it worthless?
There will be much, MUCH more $$$ than goods and services available to purchase with that $$$. AKA: Runaway inflation.
Posted on 10/6/20 at 12:07 am to iheartchimichangas
We should ask, what were people making before this?
It doesn’t matter much if they were earning 50k, for example.
It doesn’t matter much if they were earning 50k, for example.
Posted on 10/6/20 at 12:28 am to SEC7070
quote:An economist was tweeting about this the other day. And he notes that salaries are so high in Geneva that this wouldn’t actually impact very many people (only about 6%), and probably wouldn’t have much of an impact on inflation. Apparently school teachers earn like $90,000 to 100,000 a year on average.
About $25 per 41 hour work week. Can you say worthless money.
Update. The story says Geneva has 200k workers who commute from France. Open borders.
So my guess is this would be the equivalent of like $10 or $12 an hour minimum wage in a lot of places in America. So it’s not as drastic of an increase as the figures themselves would indicate.
Posted on 10/6/20 at 12:36 am to dreigh
quote: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.
There will be much, MUCH more $$$ than goods and services available to purchase with that $$$. AKA: Runaway inflation.
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.
Posted on 10/6/20 at 12:50 am to SEC. 593
quote:
I travel to Switzerland a few times a year for work, they aren't part of the EU and don't have open borders like how you're implying.
Yeah, and each adult male citizen, is issued a rifle to keep and maintain and is part of The National Militia. They aren't like other European Countries.
If they have that many workers, that are commuting from France, I'm thinking that this wage increase will apply mostly to them. Sort of a per diem type thing maybe?
I've wondered at times though, if we did have a higher minimum wage here, would it draw some people off of welfare? and would we be better off in the long run, by getting these people in the work force.
Posted on 10/6/20 at 4:06 am to AUFANATL
quote:
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.
Germany makes fun of them because they are said to have relations with family members. Hence they frick their sister, so they are kinda the Alabama of Europe.
Posted on 10/6/20 at 6:25 am to TerryDawg03
quote:
Well, you should check out the Monetary Theory of Inflation.
I have. Thanks.
Posted on 10/6/20 at 6:36 am to oliveandblue
quote:
Geneva is a super wealthy area. 53k ain't shite out there.
This. Most expensive city I have visited.
But they had this original idea, so it's worth it.
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