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> Increased wages by fiat long enough merely increase inflation. If this is true then places with low minimum wage should also exhibit lower inflation than pla
by TheSpiceIsLife 8y ago
> Increased wages by fiat long enough merely increase inflation.
If this is true then places with low minimum wage should also exhibit lower inflation than places with high minimum wage.
Can this be demonstrated?
- AnthonyMouse 8y ago> If this is true then places with low minimum wage should also exhibit lower inflation than places with high minimum wage. The analog to minimum wage isn't rate of inflation, it's prices. Places with a lower minimum wage do have lower prices. (The analog to rate of inflation would be rate of change in the minimum wage.)
- TheSpiceIsLife 8y agoTrue, thank you, that's a good point.