Hi,
The main argument I hear against increasing minimum wage is that it will cause inflation.
Now, I am not an economist but it doesn’t make sense.
It’s not like it means printing money, it just means that more money that will otherwise go to corporate will go to workers, who will be able to afford more stuff and buy more.
So the argument is because people will have more money to spend stuff will cost more, so that one is based on corporate greed will cause inflation if people will have more money.
Or they will need to pay people more and will enroll in to people and thus increase prices.
But it will still be ok, since if someone make more money he will be able to still afford that stuff.
Right now what happened is that prices are increasing anyway, only that people salary is not.
So what part am I missing here with my 10yo logic?