An NPR article today chronicles the increasing debate around raising the minim wage. The debate raises a dilemma…Increased wages will likely increase prices. Not saying that’s a good reason for not raising wages. However, if hamburger prices go up, there could be a bizarre cycle. Let alone the quality of the food, sadly I think a fair number of lower-income families depend on these places to feed their kids. If prices for these foods exceeds their ability to pay for them, what then? Obviously (?) a minimum-wage increase across the board is needed. But if wages increase, then prices increase, does that really solve anything? I don’t know.
Perhaps it’s time to change the game instead of trying to change the rules?