minimum wage increase doesn't cause inflation.
the fact is that with the increase in inflation, the wages haven't increased in relation to increase of inflation
the problem is that cons don't understand basic economics and whine about inflation and rising prices yet all of this is relative depending how wages increase
if wages increase relative to cost of living, assuming its a livable wage, than rising prices are irrelevant
cost of living is even higher in scandinavia and canada yet their standards of living are higher relative to the rest of the world.
this Is based on better wages and a stronger social security net as well as an efficient social welfare system
the problem with the u.s is that wages have stagnated the past few decades or so while cost of living and inflation have increased.
how is that in the 50's, a factory job can support a family of 4 comfortably yet that is almost impossible now??
· 2 months ago