It’s almost like the arguments against raising it were made in bad faith by industry groups.
I’ve started to see that argument as a threat instead.
Oh you want a living wage do you! Well if you manage to get your way I promise me and all my buddies will purposefully jack prices up to wipe out your raise. You want the number to change? Fine but know that if you do your earning power will stay stagnant. How? Because we are the invisible hand.
I theorize that this is what happened when people had a bit of breathing room in 2021. People got a sliver of security and then “all the sudden” the prices got jacked up in every sector and every product way beyond the levels needed to offset supply chain issues.
Living wage doesn’t drive inflation—oligopolists do.
Yeah, no shit. It was all about maximizing profits and that’s it.
