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That is assuming the (much debunked) trickle down economics. A 20c increase in taco price is not going mean an increase in the worker's pay (if any at all). M
by sedawk 4y ago
That is assuming the (much debunked) trickle down economics. A 20c increase in taco price is not going mean an increase in the worker's pay (if any at all). Minimum wages haven't increased (much) in the States for over a decade, in spite of record profits for a lot of these minimum wage employers. Sure, the price increase is going to help with wealth accumulation for some, but certainly not all, and the ones left out will feel the sting. Someone on a pension will see a sudden increase in prices, property taxes etc. something she didn't have enough buffer to accommodate. Of course, there are other forces that will do the same too, but it would be foolhardy to ignore the effects of digital nomads on local economy. Better to get ahead of it in terms of public policy before it becomes too big of an issue. Same way governments around the world are struggling to curb inflation, nomads can cause (unexpected) inflation on local economies.