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A comment on How the Unchecked Power of Companies Is Destabilizing Governance. Parent comment

Re:How the Unchecked Power of Companies Is Destabilizing Gov... by cmonreally123 on Tuesday October 22, 2024 @11:32PM (#41921526)
I think you hit my points nail on the head. Automation is the upper bound, I'm not convinced on your latter point because market forces typically act before minimum wage, which I think a different comment or brought up in relation to McDonalds.

Just so it's clear I think if there is a legal solution to this it's on taxing the high end of incomes, inheritances, and capital gains, not the low end.

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Re:How the Unchecked Power of Companies Is Destabilizing Gov... by lll-o-lll on Tuesday October 22, 2024 @11:50PM (#41921631)
> I'm not convinced on your latter point because market forces typically act before minimum wage

If there were a long term inflationary effect, then industries particularly sensitive to minimum wage costs should have significantly higher prices in Australia compared to the US. That doesn’t appear to be the case; perhaps they absorb the additional costs in the profit margin. It can’t have no effect, but it’s clearly not as simple as you were implying.

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