I was reading a recent article in The Economist about Segolene Royal, the Socialist Party nominee for President in France. Her platform includes all sorts of wacky lefty ideas, but the one that struck me was her proposal to raise the minimum wage.
She wants to increase the minimum wage to 1,500 euros per month. By my calculations, that equates to $13.93 per hour. (See my calculations below.) I just can't imagine how it's possible for a country to have any economic growth when it's paying its burger flippers nearly $14 an hour. But hey, who needs economic growth when the government takes care of you from artificially-conceived birth to physician-assisted death?
1,500 Euros = $1,950
240 work days per year = 20 work days per month
7 hour work day * 20 work days per month = 140 work hours per month
$1,950 / 140 = $13.93
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