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| Topic | So rather than pay people a living wage |
| adjl 05/10/22 3:27:18 PM #10: | Revelation34 posted... Because it is flat out wrong. They ALWAYS go up. https://www.investopedia.com/ask/answers/052815/does-raising-minimum-wage-increase-inflation.asp Their first main finding was that "wage-price elasticities are notably lower than reported in previous work: we find prices grow by 0.36 percent for every 10 percent increase in the minimum wage." First google result for "minimum wage and inflation." Presumably you could find more if you wanted to substantiate your belief that prices always follow wage increases. For the most part, though, the correlation is pretty weak, so you might have difficulty proving that. That article even tries to cover both sides, but all they're able to provide for the argument that wage increases cause inflation are theories and hypotheses, not empirical evidence collected from prior wage increases. --- This is my signature. It exists to keep people from skipping the last line of my posts. ... Copied to Clipboard! |
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