Quote:
Originally Posted by SebC
Come on. If that were true, Walmart would be for increasing the minimum wage, not against it.
Look, you're right that input costs have their own labour costs and those get affected to. But the whole cause of inflation isn't that the minimum wage goes up and then the price of goods goes up equal (it doesn't, labour isn't the only input) and then the minimum wage goes up again. In fact, inflation is generally controlled by monetary policy.
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Wal-Mart might not be in favour of minimum wage increases just like they aren't in favour of other things that hurt all businesses from profiting, like pandemics for example. But they still benefit from the collateral damage.
And you are right about wage increases not being the whole cause of inflation, but it is on top of the other factors.