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Originally Posted by VladtheImpaler
WTF does that mean? If the goods/services are not selling, the business adjusts its pricing. That happens all the time. Supply, demand, all that nonsense. You realize (well, clearly you don't) that raising the price of unskilled labour during a downturn (when there is plenty of supply) will lower the demand for said unskilled labour, and result in more unemployment?
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Quote:
Originally Posted by Delgar
What is this, some kind of invisible hand?
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So would it be in our best interest to lower minimum wage or get rid of it all together? Because it will reduce costs which will automatically lead to lower prices being passed on to consumers?