Analysis finds Australia’s inflation being driven by company profits, not wages

Re:Analysis finds Australia’s inflation being driven by comp... by jvmfjvfjvf on Saturday February 25, 2023 @06:41AM (#34935862)

A $50 minimum wage wouldn't affect unemployment? Why not make it $100?

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Re:Analysis finds Australia’s inflation being driven by comp... by lordnacho on Saturday February 25, 2023 @06:54AM (#34935953)

If it works at $100, why not?

As long as you're clear about what tradeoffs you're making, and as a society we still want no employment effect, if it works at $100, what's the problem?

You only have something to discuss if it's clear that unemployment will rise, and even so you need to decide how much is tolerable in exchange for whatever you get out of raising the minimum wage.

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Re:Analysis finds Australia’s inflation being driven by comp... by sokoloff on Saturday February 25, 2023 @10:02AM (#34937158)

Do you have even the slightest doubt that unemployment would rise significantly if the minimum wage were suddenly raised to $100/hr? I am certain that it would.

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Re:Analysis finds Australia’s inflation being driven by comp... by lordnacho on Saturday February 25, 2023 @02:35PM (#34939687)

My guess is it would. But the point isn't whether it should be $100, my point is we should use evidence to tell us what we're trading for what. If it's $100 minimum and great depression, I want to know that. If it's $100 and unemployment grows by 2%, I want to know that.

If we don't use evidence we choose blindly.

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