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tempay • last Monday at 10:33 PM • 2 replies • view on HN

> consuner spending is increasingly debt

Geneva has the highest minimum wage in the world precisely to try and avoid the "working poor".

Also the "consuner spending is increasingly debt" is very US centric view. The situation in Europe is less extreme and totally absent in many countries.

Replies

throwaway85825 • last Monday at 10:40 PM

>locals largely won't do

This is never true and just economic denialism. There is a market price for labor. If there is no supply at a given price it is not evidence that a market does not exist, only that the demand is mispriced.

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throwaway2037 • last Tuesday at 4:15 PM

    > Geneva has the highest minimum wage in the world
I was surprised when I read this, but I Googled, and it looks true. Minimum wage in Geneva is 24.59 CHF per hour. Wow! With 1.5 working parents, you can definitely live on 1.5 * 2000 * 24.59 CHF = 73,770 CHF (92.5K USD) per year in Geneva. (To be clear: I am not writing this sarcastically. I think 74K CHF per year will definitely not be "working poor" in Geneva.)
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