3 ms·
That is only studying first part of the problem. Minimum wage also means, net expenses to produce things also goes up. Transferring the burden of paying the min
by kamaal 11y ago
That is only studying first part of the problem. Minimum wage also means, net expenses to produce things also goes up. Transferring the burden of paying the minimum wages to consumers[Who are being paid the minimum wages]. Thereby going back to square one.
This or, since budgets remain same. You will employ lesser people to do same job. Because that is the all budget you have to pay people.
- crdoconnor 11y ago>Minimum wage also means, net expenses to produce things also goes up. Transferring the burden of paying the minimum wages to consumers Nope. Shareholders. Minimum wage hikes eat into profits before affecting prices or employment. This is why businesses hate them with such a seething passion. To look at a more concrete example, compare the minimum wage in Australia vs. the US and the cost of big mac in both countries.