Evidence? Studies on minimum wage and inflation followed data when minimum wage mostly increased 5 cents to 50 cents per hour every three to ten years. In practical terms, minimum wage went from $7-something per hour to over $15 per hour from 2013 to 2019. Of course said increase, even if informal has been inflationary.
So the minimum wage more than doubled between 2013 and 2019, but did prices more than double between the same period?
No they didn't. So in real terms, those on minimum wage benefitted from a pay increase without inflation chipping away at their rise.
All prices? Nope. When there are foreign substitutes, imports will look more attractive.
On this thread, I addressed rent. You don't want to discuss rent. Cheap hotels? They have MORE THAN DOUBLED.
Economics, one has to look at best policies which would benefit many and only slightly hurt few. Hotel prices have doubled, tripled and quadrupled. Rent has more than doubled. Just because crops grown in Central America & Mexico have kept some ag produce from tripling does not make Fight for $15 a success. Poster, if you want to pretend to be an economist, you need to pretend to care about all U.S. citizens. What about those on social security? B.H.O./Biden administration signed bill to have social security benefits increase by 50 basis points less than inflation as measured by U.S. Department of Labor, Bureau of Labor Statistics. Those on social security, many who are poor and living in apartment. Over the past 8 or 9 years, their social security checks have increased by less than 25%.
He is really stupid. If everyone had at least a million, then a gallon of milk would $40. Stupid socialism. How does a guy who is suppose to be incredibly smart not see this?
The evidence doesn't support that minimum wage increases cause inflation.
What's more likely to cause inflation is the top 5% increasing their wealth disproportionately to the rest of us.
If minimum wage rises can stop runaway wealth inequality, then inflation will fall.
Lmfao. In that case, we should raise the minimum wage to $200 an hour. Since it won't cause any inflation (actually it will reduce inflation according to your theory), everyone will be rich.
Venezuela has increased the minimum wage by about a quadrillion percent in the last 5 years. Wonder whether that stopped inflation, as your theory predicts?