Jobst
On Monday, September 4, 2017 at 10:24:47 AM UTC-4, jbeattie wrote:
Snipped
Well, you can pass the cost of wages along in price, assuming price elasticity. Smokers don't have a similar option for increasing revenues to cover the cost of cigarettes -- so the markets do operate differently. Paying a higher minimum wage also stimulates the economy because workers have more buying power. It's trickle-up instead of trickle-down. My son earned sh** in a bike shop and then took all his earnings and bought a bike from the shop.. Good discount, but still a money maker for the shop.
-- Jay Beattie.
But how long before the price increases due to the mimimum wage increase negates the minimum wage increase? It seems to negate it pretty quickly here.
Cheers
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