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It's pretty clear that minimum wage increases are inflationary. They may not be NET inflationary in some circumstances. Consider this thought experiment: raise
by Turing_Machine 6y ago
It's pretty clear that minimum wage increases are inflationary. They may not be NET inflationary in some circumstances.
Consider this thought experiment: raise the minimum wage to $2 million/hour. What happens to prices?
- aww_dang 6y agoWhat happens to employment? For 2M/hour employers would be able to maintain sophisticated forms of automation, without the liabilities of humans. In terms of price inflation, UBI will inject the hot flows which previously stayed in capital markets into everyday consumption.