That’s a really excellent idea. On the off chance that you may be wrong in a few cases, what happens if you go out of business after raising your prices enough to get wages high enough to be where you think they should be?
That’s why the government has minimum wages, which help the market deal with that.
Fast service restaurants have already adapted. Five Guys or Chipotle cost more for a better product. McDonalds has to remind you on the wrapper that their burger contains beef.
There is a working restaurant a few blocks away.
Re:Labor shortage or terrible jobs?
by throwawayboise on Saturday May 01, 2021 @02:41AM
(#27003870)
And they're fully staffed. What do all the employees of the shuttered restaurant do?
60% of restaurants fail in the first year. The employees get unemployment (they aren’t gig workers) and find another job.
This is the system we are using. I don't have to like it. Scaling is done something like: If there is room for 4 shoe stores and there are 7 its going to be difficult for all of them until 2 close.
If you work full time as an adult and are Medicaid eligible, you’re being paid poverty wages.
> What is the change of the model in case of the restaurant?
Raise the prices.
It’s already happened anyway, the market has plenty of elasticity. Restauranteurs always whine about how impossible it is to raise prices, yet they seem to manage to do so just fine.