California’s minimum wage isn’t enough to keep up with workers’ costs of living, new report says - eviltoast
  • KevonLooney@lemm.ee
    link
    fedilink
    arrow-up
    12
    ·
    8 months ago

    Many studies have shown that raising the minimum wage (especially from a low level) doesn’t affect inflation at all. It actually may help the economy, since people buy more when they have money.

    The marginal cost of making extra goods is very low. Food or appliances cost like a third of what they sell for, depending on where you buy them. So some extra wages for the person that makes it is not a large part of the cost. Distribution marks it up.