@coachdrewglobal Minimum wage just creates more incentive to replace humans with automation, or cut jobs. The only thing that can cause raise in price of goods is rise in the demand or drop in the supply. If you care about wages, you should fight for increase in competitiveness, ease of creating businesses, so there are more businesses, and companies need to bid higher for the labor.
@dpc also, this really isnt about jobs being cit and automation. Its about theory that increased wages will leave the working poor with too much money to spend/too much purchasing power, leading to inflation, leading to higher interest rates, meaning higher cost of borrowing. In other words, they tell me that our economy depends on a large group of people staying poor.
@dpc if you read between the lines, that is the dominant theory behind our current economy. We are taught that making things easier for “business” (owners of capital) is the best way to make things better for humans (labor). I agree that its rubbish, but some of your reply to my original toot seemed to embrace this theory.