Insidb on 05 February 2016
If you increase minimum wage, you increase overhead. If you increase overhead, you increase costs.
If you increase minimum wage, you increase consumer capitalization. If you increase customer capitalization, you increase revenue.
Unless one business is paying every single worker, they benefit from the increased capitalization of all customers.
The inflation fallacy is based on the false premise that only costs will increase to businesses (by ignoring increased capitalization of customers).
