Chicago politicians want to make our minimum wage 10 dollars an hour!

[Max King of the Wild]

Aielyn said:

badgenome said:
No, I think that driving up the cost of labor = higher prices. It does have to work that way.

No, it doesn't. Like I said before, economics is a highly complicated field, and the reductionist attitude that people like you apply is just plain wrong. There are a hundred different possible results for increasing the cost of labour. Higher prices *can* apply. There is no reason why it has to.

Only 3 possible outcomes. Cut hours (which defeats this increase) increase prices (which defeats this increase) or eat costs.... What do you think businesses will do? I can tell you right now both Target and Little Caesars will decrease hours and Little Caesars will most likely increase prices.