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<blockquote data-quote="zubenelgenubi" data-source="post: 4092587" data-attributes="member: 63706">I agree that increasing minimum wage will have an impact on prices, and I used to think that it would lead to hyper-inflation, but I don&#039;t think it&#039;s a direct ratio. We might see a few ticks increase in inflation. But the market tends to make adjustments, meaning that many businesses that rely on a minimum wage work force will shut down, or cut back on jobs. People who think they are helping anyone by increasing minimum wage really don&#039;t understand economics. All it does is increase unemployment amongst low-skill workers, raise the bar to entry into the workforce, and force those who do get the increase to work harder or lose their job. And think about the skilled workers who make around $15/hr now. Suddenly they are making minimum wage, but no one seems to care about the people in the middle. If you are going to have a minimum wage, you might as well go full stupid and enact an entirely goverment directed wage scale where everyone gets an increase commensurate with the minimum wage increases. Think of the massive amounts of unemployment that policy would cause.</blockquote>

[QUOTE="zubenelgenubi, post: 4092587, member: 63706"] I agree that increasing minimum wage will have an impact on prices, and I used to think that it would lead to hyper-inflation, but I don't think it's a direct ratio. We might see a few ticks increase in inflation. But the market tends to make adjustments, meaning that many businesses that rely on a minimum wage work force will shut down, or cut back on jobs. People who think they are helping anyone by increasing minimum wage really don't understand economics. All it does is increase unemployment amongst low-skill workers, raise the bar to entry into the workforce, and force those who do get the increase to work harder or lose their job. And think about the skilled workers who make around $15/hr now. Suddenly they are making minimum wage, but no one seems to care about the people in the middle. If you are going to have a minimum wage, you might as well go full stupid and enact an entirely goverment directed wage scale where everyone gets an increase commensurate with the minimum wage increases. Think of the massive amounts of unemployment that policy would cause. [/QUOTE]

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