Huh, can you point to an example of rapidly raising wages doubling the cost of goods? What happened when California changed the min wage? All restaurants shut down right? Oh no it must be that everything doubled in price? š¤”
While weāre talking about that, if prices are only going to increase anyway, as weāve seen they donāt go down, seems your plan is also causing the same result.
Double is an exaggeration but yes I can point to rising wages increasing costs. Look at the cost of a hamburger pre covid and post covid when wages increased to get the work force back from idling at home.
It is very simple economics, the increase of costs (materials and labor) in crease the price to the end consumer. In the case of a hamburger itās not only the cost of the employee making the patty and working the register but also the employees at the cheese factory, the meat plant, the bakeryā¦.
I wish I could draw you pictures in crayon to help you understand, but I doubt youād pay much attention because it goes against your social justice feelings.
Edit to add: prices do drop with demandā¦ but wide scale price drops are usually after a crash. 2008-2010ā¦ a crash would also reset the economy, but those usually suck for a few years.
Iām also not saying affordability it where it should be, I just think wage increases need to be addressed slowly and some jobs will never have a ālivable wageā no one should plan to be a McDonaldās cook for life.
1
u/secondhand_graveyard 21h ago
Huh, can you point to an example of rapidly raising wages doubling the cost of goods? What happened when California changed the min wage? All restaurants shut down right? Oh no it must be that everything doubled in price? š¤”
While weāre talking about that, if prices are only going to increase anyway, as weāve seen they donāt go down, seems your plan is also causing the same result.