I see a ton of posts about businesses needing to raise their prices to be able to support their wages.
I am an accountant for a business in the hospitality industry. We raised our wages because we want to give a fair wage. But, COGS is rising and we can't raise our prices because it would become too expensive and would cost us business.
I am 100% on board with if you can't support to pay employees a fair wage, you should close down.
But what happens when these companies close down because they can't afford to pay their employees a livable wage because living expenses are rising and the only companies who survived are companies like Amazon who are the problem to begin with? Does that make sense?
I've been thinking about this for months and haven't been able to figure out how to research it.