3 ms·

Economists were saying some time ago on NRP that inflation becomes a vicious circle when it encourages/forces employees to demand higher wages "because everythi

Economists were saying some time ago on NRP that inflation becomes a vicious circle when it encourages/forces employees to demand higher wages "because everything is more expensive", which in turns makes everything more expensive, because wages are higher now. I think we are already there, everyone is jumping ship to get a higher wage right now, rampant inflation is here to stay

diob 5y ago
This seems like an alarmist take, the truth is wages haven't been going up much and yet inflation was occurring regardless. What caused inflation then? Why do folks only ever worry about inflation when it comes to increasing the bottom wages?
- rhacker 5y ago
  They haven't? All I have been hearing for the last 2 years are minimum wage going to 15, and now 18 is the next target.
  - flavius29663 5y ago
    Minimum wage is de-facto 15, with Amazon offering at least that everywhere. Now we see additional requests for increase. This will never stop. The problem is not with the minimum wage amount, it's with helping people getting off of that, minimum wage should be a temporary stopgap in a person's life. Living on minimum wage sucks hard, no matter the amount. If you increase it, you will only have more people living on minimum wage, struggling to make ends meet. At 7.25, a person doing 20 was fine. Now at 15, a person doing 20 is struggling.
    - diob 5y ago
      This isn't even true statistically: https://www.statista.com/statistics/238997/minimum-wage-by-us-state/ https://www.statista.com/statistics/238997/minimum-wage-by-u... Minimum wage isn't what is driving inflation. It's insane to me that folks think inflation will happen if we increase wages, when it happens regardless of that. It has more to do with the crazy subsidies / handouts we give to the top 1%.
  - diob 5y ago
    If you look up the stats (hearing is just anecdotes and alarmist takes by Fox to rile their base), there hasn't been a whole lot of movement. And inflation has been going on a lot longer than the last 2 years, so still it wouldn't be correlated as much as something else pushing it behind the scenes. for ref: https://www.statista.com/statistics/238997/minimum-wage-by-us-state/ https://www.statista.com/statistics/238997/minimum-wage-by-u...

diob 5y ago

This seems like an alarmist take, the truth is wages haven't been going up much and yet inflation was occurring regardless. What caused inflation then? Why do folks only ever worry about inflation when it comes to increasing the bottom wages?

rhacker 5y ago
They haven't? All I have been hearing for the last 2 years are minimum wage going to 15, and now 18 is the next target.
- flavius29663 5y ago
  Minimum wage is de-facto 15, with Amazon offering at least that everywhere. Now we see additional requests for increase. This will never stop. The problem is not with the minimum wage amount, it's with helping people getting off of that, minimum wage should be a temporary stopgap in a person's life. Living on minimum wage sucks hard, no matter the amount. If you increase it, you will only have more people living on minimum wage, struggling to make ends meet. At 7.25, a person doing 20 was fine. Now at 15, a person doing 20 is struggling.
  - diob 5y ago
    This isn't even true statistically: https://www.statista.com/statistics/238997/minimum-wage-by-us-state/ https://www.statista.com/statistics/238997/minimum-wage-by-u... Minimum wage isn't what is driving inflation. It's insane to me that folks think inflation will happen if we increase wages, when it happens regardless of that. It has more to do with the crazy subsidies / handouts we give to the top 1%.
- diob 5y ago
  If you look up the stats (hearing is just anecdotes and alarmist takes by Fox to rile their base), there hasn't been a whole lot of movement. And inflation has been going on a lot longer than the last 2 years, so still it wouldn't be correlated as much as something else pushing it behind the scenes. for ref: https://www.statista.com/statistics/238997/minimum-wage-by-us-state/ https://www.statista.com/statistics/238997/minimum-wage-by-u...