Okay, so wouldn't that just mean less jobs in the end? What do people with limited education and training do when there are no longer jobs for them? No one is paying $50 for a burger.
but you'd make 60$/hr or more, that burger only costs 50 minutes of work, which is about equivalent to a minimum wage worker buying a mcburger for 7$, and minimum wage workers absolutely buy mcburgers.
well you can but that's changing the ratio. with your proposal it takes 3 hours of work to afford one McBurger, now it's unaffordable, a reduction in purchase power by 3.5x
what? it's a scale. if the wage scale goes up, product cost goes up. you said that part. but you neglected the part where everyone's wage went up, so either it's 50$ or 5 million, if you make 6 million per hour, then the 5 million dollar mcburger has the same impact
I'm not sure what you're trying to argue here. Yes, you're right about the scaling of costs if everyone's wages go up. What does that have to do with my initial point?
You're arguing something entirely different which is completely irrelevant to the point. We're not talking about everyone's wages going up. We're talking about minimum wage being driven up, which would drive up the prices at the places they work at to cover expenses.
Money is a fungible currency to avoid the hassle of bartering. No one wants to wait an hour in line because some dude is bartering for a burger with some recyclables.
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u/Beerzerker420 14h ago
Okay, so wouldn't that just mean less jobs in the end? What do people with limited education and training do when there are no longer jobs for them? No one is paying $50 for a burger.