this post was submitted on 03 Apr 2024
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Correlation does not equal causation!!!
Usually, yeah, but I think it's safe to say that when the company is spending more they'll raise prices to cover costs. Assuming that a price increase on the same day as wages go up was caused by anything other than the wage increase is kind of like plugging your ears and screaming you can't hear.
Yeah. But for this it does...
Like, it's not some unknown phenomenon. Business owners pass the increased cost to consumers rather than lose profits.
And that price increase is realistic. Margins are slim in food, so the labor cost to double wages is still pennies, maybe a quarter per item.
Hell, knowing capitalism it also raise the profit too.
And people would be cool with that. We're already seeing prices go up more than this anyway. But if everyone's pay went up, we'd all buy more shit, and everyone would make more money.
Capitalism is failing because people with more money than they could ever spend still want more so they can say they have the most. The number doesn't matter, they just want everyone to have less than they do. So they don't even act in the best interest of the economy. If the poors have money, they might give it to another wealthy person, so they keep it hoarded so it stays with them.