Always valid.
Let the businesses fail. We have a new generation of people who’d be happy to have their chance in a truly free market.
Or we could just admit capitalism isnt viable and do some kind of communism. Ideally an anti-hierarchal one.
I’m down for democratic socialism with ranked-choice voting, no EC, and worker co’op based business management. The economics of capitalism can stay, but only under proper management (i.e., the working class — who actually create the capital). Where’s your petition? I’ll sign.
Nearest billionaire or cop’s skull. Its on the inside so it might be a little tricky to get to.
Ah yes the petition, the working class’s most powerful weapon, feared by oligarchs and petty despots alike!
But but but there was this one paper from that one economist saying that if we raise the minimum wage that everyone will go out of business and inflation will be worse than 1920s Germany.
NO! Do NOT look at the actual real life examples where raising the minimum wage resulted in more economic growth and activity and lifted thousands out of poverty.
-Some dumb CEO.
The idea that raising wages is inflationary is simple, elegant, easy to understand, and wrong.
it’s the biggest econ101 meme and refuses to die no matter how many times it’s been proven wrong.
I even remember in econ101 my professor brought up the basic analysis, then brought up a really cool example of this where the minimum wage changed in one state but not another in two towns right on the border. It was the perfect econ experiment to prove how supply and demand would cause inflation.
The next 5 years saw no change despite a 2 dollar an hour increase on one side only - the two towns maintained equal pricing, and no increase to inflation or pricing compared to the typical rate.
My favorite part was that he managed to be excited about it properly, because it was and is cool science to him when usually economics is trying to analyze how changes happened with way too many variables.
raising wages is what allows people to handle inflation - suppressing wages to fight inflation is ass backwards, even if wage growth created some inflation
You mean to tell me billionaires lied?
In terms of what we pay at the cash register, the report found that restaurant owners had increased their prices by only about 1.5% — or six cents on a $4 item.
Isn’t that literally what people were forecasting?
had increased their prices by only about 1.5%
Tariffs and war against Iran have done a lot worse
“It led to only the most modest of price increases — barely noticeable to a consumer”
Barely noticeable if you take one study. 12% on another / or live in CA and see it. Between inflation and this hike i for one prep food bought at bulk stores since 2024. Amazing to me people pay that to eat crap chain food.
I imagine prices have gone up at least 12% here as well, depending on what timeframe, and minimum wage hasn’t changed
There are way more factors at play here rather than a simple wage hike. The war in Ukraine caused a global shortage of wheat and a few other staple crops and fertilizer. The oil embargo on Russia also caused gas prices to climb even further.
Climate change has also quietly eroded some of the world’s farmland causing a bit more food scarcity. Japan for instance recently couldn’t produce enough rice to feed everyone which caused it to import it for the first time in a long while. I got to see this first hand with some ramen shops no longer being seen as “affordable” due to their bowls climbing above 1000 yen.
In the US we had the bird flu wiping out a huge amount of eggs and chicken, there was even a time when I’d see a 1 dollar surcharge on my local restaurant for any dish that uses them. The consolidation of the restaurant wholesale food market by Sysco and US Foods is also creating a chokehold on their prices. Trump’s fiscal and international trade policies have wrecked a lot of the economy causing huge spikes in inflation too. Besides that we have plain old corporate greed with them taking advantage of all this as a smokescreen to crank up the cost of their food.
So, it really was Biden.
/s
yeah that inflation was before the wage hike and you stopped back then. So did my wife and I although much earlier and we don’t live in cali. I never realized how much the cheap in fast food effected my consuming of it. Once buck things became a thing of the past that was pretty much it. Same actually with lottery tickets. would throw down a buck every so often just to give a basis to fantasize but two or three bucks. Forget it. Pretty sure it will be a fiver soon.
Damn I knew there was a reason I never play the lottery anymore. I used to throw down a buck for the dream once in a while when the payoff got big enough, but even dreams have been hit by inflation so they’re no longer affordable
I never thought of it that way but yeah. Its kinda funny to because inflation makes things more expensive so mayb relative wise its not so much more but you need to be that much more careful with lower amounts because you basically don’t have discretional spending dough.
