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If that was his argument, then perhaps he should have chosen NOT to quote a discussion about minimum wages.
You're right. When you argue with someone who only discerns keywords and catchphrases, you shouldn't have them in your discussion. But, as best I can tell, Mircea actually comprehends the meaning of what's said and says what he means. That level of intellectual grit seems completely beyond your ability. And, that, I agree, is his mistake.
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Theres a lot of other economic forces at work when you discuss minimum wages. This may be too advanced of a economics discussion for you.
Considering you haven't been able to read and understand straightforward arguments and crystal clear logic, I doubt it's me who has the deficit.
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Tell you what, I will again give you the same challenge I give to everyone. Show me where minimum wages went up, and there was a spike in inflation that was related to it. I wont hold my breath.
Of course not. You'd deny every fact, always, if it disagreed with your politics.
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In fact......your claim then is that the 3.1% rise in the first 3 quarters will result in inflation during the last 3 quarters of 3.1%? Feel free to demonstrate that.
I'm not claiming anything other than you're failing, utterly, at comprehending even crystal clear logic and reasoning. As far as attempting to debate the meaning and cause and effect of a wide array of topics all smashed together (as you argue), it would be fool's errand.
Do increases in the cost of labor result in higher prices? Yes, or no?
Increases in labor costs can, but not always, cause prices to rise. Macroeconomically, in the long run, rising wages cause rising prices. On an individual basis, however, there are a plethora of factors at play. Competition and low consumer demand being two such factors.
Increases in labor costs can, but not always, cause prices to rise. Macroeconomically, in the long run, rising wages cause rising prices. On an individual basis, however, there are a plethora of factors at play. Competition and low consumer demand being two such factors.
When margins are good, competition for wages can result in reduction in margins and no increase in prices.
But, margins are NOT good, and for most businesses in this economy, margins cannot slip farther or the business falls into high risk of failure.
The efforts you go through to avoid comprehending or admitting what's true are truly amazing. Have you ever chased cats or chickens? They are experts at avoiding where they should go. Please understand, you are so wrong it hurts to see it.
He quoted you arguing that raising wages will not raise prices.
And, then he quoted the labor department saying that the cost of labor had risen 3.1 percent AND that prices will rise to maintain margins.
I wish you'd be smart enough to follow a lesson in actual economics so I could teach you how to spot and avoid "rainbows and unicorns and pixy dust" economics.
Seriously, some days your determination to remain ignorant is stunning.
So you agree then that when a CEO's wage increases but the employees does not the cost of products/services also go up? So employees will have to pay for their CEO's pay raise with increased cost for products and services?
If so, at least the employee breaks even when they receive the wage increase. Dont you think?
Also do you think if wages are stagnant or go down the cost of products/services will go down??
Whenever labor costs go up, the cost of goods goes up.
The cost of goods goes up because those in charge don't like losing money in their greedy pockets so they will increase the cost. But labor costs don't increase rent and electricity.
The cost of goods goes up because those in charge don't like losing money in their greedy pockets so they will increase the cost. But labor costs don't increase rent and electricity.
I see you have the gift of knowing just how much someone else's time, effort and risk is worth.
Tell us how much money would you be willing to lose in order to pay your neighbors rent and electricity?
The cost of goods goes up because those in charge don't like losing money in their greedy pockets so they will increase the cost. But labor costs don't increase rent and electricity.
I guess they could either close up shop or send that business overseas where the labor is cheaper.
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