Is raising minimum wage nationwide a horrible idea?

[MoHasanie]

Rustuv said:

Mystro-Sama said:
Doesn't this just cause inflation proportionally.

No. You are confusing rising cost with inflation. Rising cost has to do with the value of our goods going up, while inflation is a loss of value in our money. Truth is that when you account for inflation Minimum wage has actually been going down for over 40 years. $10 an hour minimum wage would actually only bring minimum wage up to being equal to what minimum wage was in late 1960's

I thought inflation is both the loss of value of money and increase in prices. So if incomes rise, then demand will rise too, and an increase in demand always results in an increase in prices. Also, an increase in minimum wages will increase costs for suppliers and so that will also make them increase prices as well.