Re:$15 minimum wage didn’t hurt NYC restaurants
by pytester on Wednesday October 30, 2019 @12:27PM
(#21399474)
>How is this a "different question"?
Because most businesses make profits so it's perfectly possible to raise input prices without them closing.
>We can argue about how many of those businesses there are
That's what we were doing. The answer was "not a statistically significant amount".
>If you've ever run a small business yourself, you'll understand how small changes in the cost of labour can be painful.
I understand all too well the kind of caterwauling that happens when you do something that could threaten the profits of any business.
>Again, we have social programs in my country to alleviate these issues.
And a historically high % of profit to GDP, so maybe we can give some of those programs a break and take the money from a sector of the economy that is actually flush with cash.
>So businesses optimize for the number of people employed, regardless of prevailing wages?
Because most businesses make profits so it's perfectly possible to raise input prices without them closing.
>We can argue about how many of those businesses there are
That's what we were doing. The answer was "not a statistically significant amount".
>If you've ever run a small business yourself, you'll understand how small changes in the cost of labour can be painful.
I understand all too well the kind of caterwauling that happens when you do something that could threaten the profits of any business.
>Again, we have social programs in my country to alleviate these issues.
And a historically high % of profit to GDP, so maybe we can give some of those programs a break and take the money from a sector of the economy that is actually flush with cash.
>So businesses optimize for the number of people employed, regardless of prevailing wages?
Absolutely they do, yes!