Seattle's Minimum Wage May Go Up To $15 An Hour
The proposed plan would gradually increase the wage over the next several years. If approved by city lawmakers, it would be one of the highest minimum rates in the world.
What's the Latest Development?
Today (May 1) Seattle citizens learned of a proposed plan to raise the city's hourly minimum wage to US$15 over the next several years. If the plan is approved by local lawmakers, it would affect around 100,000 residents, and it would be the highest hourly minimum wage rate in the world when spending power is taken into account, surpassing Luxembourg's current rate of $13.35. Seattle seems to be following in the footsteps of the nearby suburb of SeaTac, which raised its minimum wage to $15 several months ago.
What's the Big Idea?
The fight to raise the national minimum wage took yet another hit in Congress this week when the Republicans blocked the Democrats' proposed hike to $10.10. Writer Tim Fernholz notes the basic challenge involved in raising the wage: While it "may lead to a reduction of low-skill jobs that can be done more productively with new technology, it also is an extremely effective poverty-reduction tool." Seattle's willingness to take on the challenge "will present a useful natural experiment for economists."
Photo Credit: Shutterstock.com
Sharon Salzberg, world-renowned mindfulness leader, teaches meditation at Big Think Edge.
- Try meditation for the first time with this guided lesson or, if you already practice, enjoy being guided by a world-renowned meditation expert.
- Sharon Salzberg teaches mindfulness meditation for Big Think Edge.
- Subscribe to Big Think Edge before we launch on March 30 to get 20% off monthly and annual memberships.
A new computer model solves a pair of Jovian riddles.
- Astronomers have wondered how a gas giant like Jupiter could sit in the middle of our solar system's planets.
- Also unexplained has been the pair of asteroid clusters in front of and behind Jupiter in its orbit.
- Putting the two questions together revealed the answer to both.
They didn't know it, but the rituals of Iron Age Scandinavians turned their iron into steel.
- Iron Age Scandinavians only had access to poor quality iron, which put them at a tactical disadvantage against their neighbors.
- To strengthen their swords, smiths used the bones of their dead ancestors and animals, hoping to transfer the spirit into their blades.
- They couldn't have known that in so doing, they actually were forging a rudimentary form of steel.
Artists and fans are the big losers as bot-powered scalpers make a killing.
- The secondary ticketing market is predicted to grow to $15.19 billion next year.
- Artists, athletes, management, and venues see none of this revenue—it all goes to scalpers and ticketing agencies.
- Some companies are likely in breach of anti-trust laws, but no one seems to be regulating the industry.
SMARTER FASTER trademarks owned by The Big Think, Inc. All rights reserved.