Monday, November 12, 2018

Purchasing power

A few years ago, the Swiss overwhelmingly rejected a minimum wage of SFr 22 per hour, the equivalent of nearly $25. 

To Americans, this dismissal was understandable considering their minimum wage was and still is $7.25, and a proposal to raise it to $10.10 per hour is often debated. Many say a $10.10 minimum wage could push half a million people out of work.

As it turns out, when adjusting for purchasing power parity, that $25 hourly wage translates to $14, according to Bloomberg.

It's still high by American standards, but not unheard-of. As of January 1, 2018,  Seattle adopted a $15.45 per-hour minimum wage.

Gone fishing — literally

As you may have noticed, I've been absent from the Swiss Alps, due to the fact that I've been fishing off the New England coast. T...