What is not speculative is the law of supply and demand. You raise the price of something and demand will drop.
You are just not compassionate. Don't you CARE?
That law is neutralized by printing more money and giving it out or by taking money from one group and giving it to another more deserving group. Both policies make more money available so everyone's standard of living improves. The only time this does not work is if misguided conservatives spoil things by restricting the largess so that too little money is printed or redistributed. Politicians have proven these policies to be effective because they get rich doing it. Nothing succeeds like success!
And when demand drops prices go up or the company goes out of business.
Which in turn reduces the money's buying power until the only ones who ultimately benefit are those who make their living taking a percentage of the money - banks, wall street, and government.
If you don't think increasing labor costs will increase prices, then you have all the economic acumen of Bernie Sanders.
On election day, do the country a favor and stay home.
I really hope my sarcasm meter is broken.
If not, I highly suggest you take a junior-high level economics course or two.
Well, that's very kind.
Last edited:
Labor is one of the highest costs of doing business. Raise wages and prices have to go up or the business won't make as much money as it did before. No profit and shareholders get pissed or private business goes belly up. Pretty basic understanding.
Not to mention the actual value of the money after an artificial raise in wages.
Not to mention the actual value of the money after an artificial raise in wages.
I think the majority of people would probably gladly accept a minimum wage increase. How many of them would accept it if they realized it might put their job in jeopardy because it would either hurt sales or cause the business owner's expenses to be unrealistic, who knows...
I can't help but feel like the story is cherrypicking a little to make the outcome fit the story they want to tell. Yes, some people are downright lazy. I personally know many people, though, scraping by on minimum wage and would gladly accept more pay. However, there are consequences to it (as I stated above).
I can't help but feel like the story is cherrypicking a little to make the outcome fit the story they want to tell. Yes, some people are downright lazy. I personally know many people, though, scraping by on minimum wage and would gladly accept more pay. However, there are consequences to it (as I stated above).
I really love the assertion that people who support left-leaning economics don't understand economics. That's a cute Facbeook meme and all, but it's kind of old hat at this point.
Similar threads
