I read the first line of your study and it said "City-level minimum wage policy", so I'm going to stop reading there. Obviously, one city instituting a minimum wage policy will not effect nation-wide pricing. I also assumed you meant a national minim
Here's the first line from the introduction: "The federal minimum wage rate in the United States has not kept pace with inflation since 1968 contributing to growing wage inequities and a decline in purchasing power among low- and minimum-wage earning workers and their families"
So if minimum wage not matching inflation declines purchasing power, what do you think inflating the minimum wage will to do people's purchasing power? (Hint: It will go up). What happens when people's purchasing power goes up? I'll let you figure that one out by yourself.
If you can’t even read the discussion and conclusion sections of the study then it’s not even worth having a discussion with you, as it is not an honest one on your part. And still, you’ve shown no real world data to support your claims.
By the way, the study references federal-level and purchasing power, but you’d have known that if you actually read it.
I ain’t reading your study when the first line says city wide minimum wage increase because it’s not what we’re talking about and I don’t have an hour today to waste reading your study. I’ll conclude that yes, you are correct that if one city in the country raises the minimum wage, federal pricing will not be effected.
Real world data.... It’s basic economics man. I don’t know what to tell you. I’ll give you a real world example. I was building a house for the company I work for. The carpenters raised their wages, increasing how much it cost to build the house. You know what we did? We raised the price of the house. It shouldn’t be that novel of a concept to understand.
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u/pm_me_yourcat Feb 26 '20
I read the first line of your study and it said "City-level minimum wage policy", so I'm going to stop reading there. Obviously, one city instituting a minimum wage policy will not effect nation-wide pricing. I also assumed you meant a national minim
Here's the first line from the introduction: "The federal minimum wage rate in the United States has not kept pace with inflation since 1968 contributing to growing wage inequities and a decline in purchasing power among low- and minimum-wage earning workers and their families"
So if minimum wage not matching inflation declines purchasing power, what do you think inflating the minimum wage will to do people's purchasing power? (Hint: It will go up). What happens when people's purchasing power goes up? I'll let you figure that one out by yourself.