Let's look at the actual intent of your article - it is not to propose 'the' solution to improve the productivity of the economy, but to device methods to improve it. After all, the fact that you say that you have not spent time thinking about the implementation (and from the depth of the article, the issue itself) reiterates my opening line. Firstly we have to remind ourselves that productivity of an economy is not even a non-linear problem, but a transcendental problem. So linear proposals like the one you attempt will barely scratch the surface.
For a moment, think of Minimum wage limit as analogous to minimum score required... (read more)
Let's look at the actual intent of your article - it is not to propose 'the' solution to improve the productivity of the economy, but to device methods to improve it. After all, the fact that you say that you have not spent time thinking about the implementation (and from the depth of the article, the issue itself) reiterates my opening line. Firstly we have to remind ourselves that productivity of an economy is not even a non-linear problem, but a transcendental problem. So linear proposals like the one you attempt will barely scratch the surface. For a moment, think of Minimum wage limit as analogous to minimum score required... (read more)