Press "Enter" to skip to content

Author: gormanm14

What Would Ronald Do?

I found an article by Venessa Wong in Bloomberg Businessweek entitled “This is What Would Happen If Fast-Food Workers Got Raises.” It helped explain why fast food employees should not be paid their requested wages of $15 an hour – not that the absurdity [see comments – it actually is not absurd!] of this notion needed an extensive explanation. It did, however, raise interesting questions about how a monopoly would react to these demands and how these demands would reflect a firm’s market power.