Is Fox news unironically the best place to learn about your new favorite social dem?

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[–] 37 points 1 year ago (4 children)
  • [–] 1 point 1 year ago

    Do you also have a paper about the wage increase in things where the price of the employees is a bigger part of the total costs (restaurants, accountants, notaries, etc)?

    In a restaurant, the costs of the wages (plus social security and pension payments) are often as much as the costs of the food itself.

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  • [–] 16 points 1 year ago (1 child)

    We find that a 10% minimum wage hike translates into a 0.36% increase in the prices of grocery products. This magnitude is consistent with a full pass-through of cost increases into consumer prices.

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  • Yeah, but note that if the supermarket pays its employees 25% more, that does not mean that the costs for the supermarket rise by 25% overall, since wages are only a small part of total expenses. The cost of products would rise way less than 25%.

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