Message from @Mal
Discord ID: 437230886480773131
The Root are not a satire site right?
they are serious?
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Sargoy strikes again!
Danks server got deleted
Nvm im late
lol that's so stupid
the bakery would probably raise prices
it's still possible they could go out of business
but his example sucks dick
If you raise prices you'll probably sell less
yes but a minimum wage rise can also boost aggregate demand
which can offset the effects of increased prices, though it will vary depending on the products being sold
SO you think people should pay more for their bread and the decrease in business means 1 or 2 people lose their jobs?
minimum wage increases don't necessarily result in a net job loss though
increasing the minimum wage might mean that certain types of businesses will become worse off due to the changes in people's spending patterns sure
but it also means others can become better off
i mean personally i'm not the biggest fan of the minimum wage but i think the typical critiques lobbed at it are absolute garbage and usually stem from a deep ignorance of economics
If enough businesses raise their prices to offset the additional cost of labor, then there won't be much of a positive effect for the people making a higher minimum wage, because the cost of living has also gone up. So in the end, what's the point?
On the other hand, getting rid of the minimum wage will allow smaller businesses to employ willing people at a lower rate, thus increasing overall production
I think it's a valid example.Raising the prices doesn't mean they will sell the same ammount of bread
People will buy it elsewhere for cheaper
unless prices rise everywhere
which is what i was talking about
Prices wouldn't rise everywhere
It would hurt the baker more than it would the supermarket
raising minimum wage would raise costs for all employers
sure, bigger businesses would be better off, at least in the short term
This is happens a lot though. It's difficult to compete with supermarkets and has put thousasands of small businesses out of business
This is why I always argue that regulations typically favour corporations
true
and it's usually because of corporations that the regulation has been made
yup
this is why we call it corporatism