You mean to tell me billionaires lied?
In terms of what we pay at the cash register, the report found that restaurant owners had increased their prices by only about 1.5% — or six cents on a $4 item.
had increased their prices by only about 1.5%
Tariffs and war against Iran have done a lot worse
Always valid.
Let the businesses fail. We have a new generation of people who’d be happy to have their chance in a truly free market.
The idea that raising wages is inflationary is simple, elegant, easy to understand, and wrong.
it's the biggest econ101 meme and refuses to die no matter how many times it's been proven wrong.
I even remember in econ101 my professor brought up the basic analysis, then brought up a really cool example of this where the minimum wage changed in one state but not another in two towns right on the border. It was the perfect econ experiment to prove how supply and demand would cause inflation.
The next 5 years saw no change despite a 2 dollar an hour increase on one side only - the two towns maintained equal pricing, and no increase to inflation or pricing compared to the typical rate.
My favorite part was that he managed to be excited about it properly, because it was and is cool science to him when usually economics is trying to analyze how changes happened with way too many variables.
A place to discuss positive changes that can make work more equitable, and to vent about current practices. We are NOT against work; we just want the fruits of our labor to be recognized better.
Our Philosophies:
Our Goals