Wednesday, July 13, 2016

Understanding the Minimum Wage Over a Cup of Coffee

An article yesterday in the Seattle Times pointed this out:

"Last July, Starbucks raised its prices 3.5 times as much in Seattle as in the rest of the country. It raised the price of its typical coffeeshop purchase across the U.S. by 1 percent, but in Seattle by 3.5 percent."

Gee, now if there only some sort of theory that would explain the effects of Seattle's $15 minimum wage law. We could call it Economics 101 or something.

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