"and their unions" being the operative phrase. Remember, economically, unions organize laborers who are employed both to the cost of management (ok, fair), but also of laborers who are not employed. Yes, the higher minimum wage will be great for those who get it.
But what if the cost pass-through and disemployment are not small? That study indicated cost-pass-through in Hungary was 75%. Denmark's minimum wage, which kicks in at 18, has an apparent disemployment effect of 33%
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There are absolutely studies with better outcomes, mostly looking at parts of the USA where wages and incomes generally were already very high. Which brings us back around to the 'regional impact' question.
Kiitos. Käytämme tätä aikajanasi parantamiseen. KumoaKumoa
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75% of what? If you're saying businesses will make consumers pay for most of their increase in labor costs, well, of course. What I'm suggesting will be small is the actual amount that raises the cost of a burger.
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Even doubling the cost of a Big Mac might be no tragedy to a consumer who now makes an additional $600 a month to put towards their mortgage and car payments.
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