4 ms·
You do realize that every time minimum wages are raised like this the cost(s) are simply passed on through to the consumers. The net effect is that the cost bas
by Kaizyn 12y ago
You do realize that every time minimum wages are raised like this the cost(s) are simply passed on through to the consumers. The net effect is that the cost base rises with the wage base, so no one actually gets ahead - the nominal price point is just set to a higher figure.
- sanswork 12y agoI don't believe this is actually true. Compare the cost of living and minimum wage in Sydney, Australia with comparable cities in the US(San Francisco for example) or Canada(Vancouver). The cost is about the same for most things despite Sydney having a much higher minimum wage.
- superchink 12y agoI'm not entirely sure this is true. Anecdotally, things seemed to be more expensive in Sydney. I wish I had better data, but I find this comment difficult to accept blindly. Actually, a quick Google shows some data supporting my experience, but I can't vouch for the data quality so I am not linking. If anyone else has anything worth adding, I'd welcome more information.
- sanswork 12y agohttp://www.numbeo.com/cost-of-living/compare_cities.jsp?country1=Australia&country2=United+States&city1=Sydney&city2=San+Francisco%2C+CA http://www.numbeo.com/cost-of-living/compare_cities.jsp?coun... Thats where I got my data. Minimum wage in SF is $8/hr. Minimum wage in Sydney is $16.87 so more than twice that. I use to live in Sydney and it was very expensive. But not much more expensive than comparable cities.
- tim333 12y agoOften they can't be passed on due to competition so the businesses employ less people instead.