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Excalibur Discount Legal Services@kevychristian.bsky.social |
This is why we need the min wage chained to the CPI like SS payments. Wages are so much slower to adjust to inflation than prices. Employers need to be forced to automatically adjust wages. And if they have to adjust the min they’ll be forced to adjust all the wages to retain higher paid employees.
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Moderately Grouchy
@moderately-grouchy.bsky.social
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Wage inflation is a much less tractable problem than price inflation. What you want is an increase in the standard of living without increased wages blowing up the economy with a wage-price spiral. Dramatic increases in productivity, as we have had, are fundamentally dangerous.
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