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Yep, people also still like to say minimum wage increases will cause inflation despite things inflating just fine without it. Sigh. Higher local wages means m
by diob 2y ago
Yep, people also still like to say minimum wage increases will cause inflation despite things inflating just fine without it.
Sigh.
Higher local wages means more money in the local economy versus money getting pulled out to somewhere else.
- gruez 2y ago>Yep, people also still like to say minimum wage increases will cause inflation despite things inflating just fine without it. This is a non-sequitur. The claim that raising the minimum wage will cause inflation does not imply not raising the minimum wage would result in no inflation. There are multiple contributors to inflation, just because you get rid of wage pressures doesn't mean the other factors disappear.
- diob 2y agoYep, everything has multiple contributors, it's all about degrees of contribution. The biggest cause of inflation has already been shown to be increasing the money supply.