Bernie Sanders and the Minimum Wage

#BernieSanders #MinimumWage #Unemployment

Bernie Sanders was recently caught out not paying his staff the minimum wage while campaigning for a $15 living wage. Let’s use this hilarious job to look at the labour supply and demand curve and understand the unemployment implications of introducing a minimum wage. Finally, let’s have a look at Australia’s minimum wage and introduce the Big Mac Index.

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References

Minimum wage: How does Australia compare to other countries?

https://www.abc.net.au/news/2016-05-31/minimum-wage-how-does-australia-compare/7461794

Bernie Sanders campaign announces it will cut hours to pay staffers $15 minimum wage, prompting mockery

https://www.foxnews.com/politics/bernie-sanders-campaign-announces-it-will-cut-hours-to-pay-staffers-15-minimum-wage-prompting-mockery

What Is the Big Mac Index?

https://www.investopedia.com/ask/answers/09/big-mac-index.asp

Big Mac Index

https://en.wikipedia.org/wiki/Big_Mac_Index

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