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.
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.