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>So on one hand we want to ensure everybody gets paid a decent wage. ... But then that gets countered by not wanting to pay too much for a luxury service, Yup.
by Dalewyn 2y ago
>So on one hand we want to ensure everybody gets paid a decent wage. ... But then that gets countered by not wanting to pay too much for a luxury service,
Yup. It's a tale as old as time.
Simply raising raising wages just means fewer people will be employed/contracted, thereby maintaining ultimate cost.
Another side effect is with higher wages, people have more money, which means more money in circulation, which means merchants will charge more for goods/services rendered. Aka inflation.
"Just raise wages." is an easy and seemingly simple thing to say and do, but economics aren't easy nor simple.
- deleted 2y ago[deleted]