Comment by lesuorac
3 years ago
It would cause wage growth leading to a lower percent (but an increase) increase in other prices (housing, etc).
3 years ago
It would cause wage growth leading to a lower percent (but an increase) increase in other prices (housing, etc).
So things that are happening regardless?
Sure but it would be worse.
You see this all the time when the minimum wage is increased by say 10% then there is a general inflation of 1%. General inflation lags wage increases although at a reduced effect.
That’s not what the empirical evidence suggests (though it’s a big topic of study).
It’s closer to 0.4% for every 10% increase and the inflation happens almost immediately.
https://research.upjohn.org/up_workingpapers/260/
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No?
This is such a random comment I don't know how to respond to besides a "No?"
Maybe ask ChatGPT since you clearly can't Google it.
There's plenty of research on this topic [1] and it all agrees that an increase in the minimum wage is followed by an increase in costs of goods.
[1]: https://www.google.com/search?q=effect+of+minimum+wage+incre...
Maybe you should use ChatGPT to write your comments, since the logic connection between them are so weak. Now it's about minimum wage? Perhaps revisit what this thread is about and the comment you replied to? Do you even know what minimum wage is?
I won't reply someone who just spew random words any further, sorry.
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