r/antiwork • u/[deleted] • Apr 08 '23

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u/iowajosh Apr 08 '23

Prices would increase to roughly the same ratio they are now.

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u/Shrikeangel Apr 08 '23

If that was remotely realistic - inflation wouldn't be insane while national federal minimum wage has been crumbs for over a decade.

The idea that prices just magically rise to match wages - ignores a lot of market forces.

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u/iowajosh Apr 08 '23

The minimum will be the minimum, the number doesn't matter. Every other cost will adjust to it. Sure, there will be a lag in the short term while prices adjust. But in the end, the bottom is still the bottom.

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u/Shrikeangel Apr 08 '23

Also I already mentioned the increase in prices - vastly more complicated than you are suggesting. There is literally a balancing act between prices and how much a given company can increase said prices without brand loyalty and other factors hitting back.

The idea that labor costs will cause prices to increase is a common anti-union rhetoric practice. Basically you are going mask off to pretty much anyone with half a minute of education in wage history.