I could not convince my friend that raising minimum wage does not cause inflation. | ResetEra
'We had a multi-hour discussion several days ago that went late into the night. ', "I'm challenging the idea that raising minimum wage leads to inflation."
'His argument: "If everyone has more money then money isn't worth as much."'
'I tried to argue, that if you give $100 to a billionaire he either buys luxury items or invests it in whatever. '
'So even if businesses have to pay employees more money than before, they make up for it by getting more customers than before. '
[–] ZeroXVX 0 points 1 point 1 point (+1|-0) ago
Economics is an incredibly conservative field that is against most progressive ideas
Sometimes it's best just to stomp out the stupid. All those that don't understand basic economics are the same one's screaming for communism. The world doesn't owe you shit, and you damn sure don't deserve to reap the benefits of everyone else's hard work while you piss away your time at the keyboard.
[–] Dancing_Queen 0 points 2 points 2 points (+2|-0) ago (edited ago)
I only see retards mixed in with a few people who can actually think.
Most probably make minimum wage like the guy claiming he makes $8 an hour and don’t understand prices would rise.
Minimum wage was meant for high school kids, people first starting out and the functioning retarded in the past, it was never meant as a life long wage by the majority. If you want minimum wage to rise deport the illegals, stop outsourcing, wages would go up naturally and without all the illegals driving up everything from housing/food/taxes etc everything would be lower in price naturally and you’d even have more money in your pocket from increased wages.
[–] chaoscontrol ago