Remember when there was debate over $15 dollar minimum wage and people arguing against it said that would just increase inflation? Well entry level low skill jobs pay over $15 dollars an hour and now we have inflation.
I'd say post-pandeming fumbling, pumping billions into the (global) economy combined with an energy crisis and a food shortage looming over some parts of the world, supply chain issues leading to scarcity for some things previously considered readily available commodities, not to mention a certain special military operation in Europe have also contributed.
It's a perfect storm consisting of things that many considered unthinkable five years ago.
We didn't increase minimum wage, nor did I imply that..
Do you think wages aren't correlated with inflation? If so why?
> If Brian had been thrown off the top of the Eiffel Tower, then he would be dead.
> Brian is dead.
> Therefore, Brian was thrown off the top of the Eiffel Tower.
I say this as someone who thinks $15 is too low.
edit: I thought you said didn't. My point is that wages are correlated with inflation, and increasing wages does not increase quality of life.
That's a whopper of a statement. What are you basing that on? As someone whose increased wages allowed for home ownership and breathing room for emergencies, this seems intuitively incorrect, but we don't have to rely on intuition: there are solid studies that found the same, as well as pointing out the broader societal impacts of wealth inequality related to low wages, e.g. https://healtheconomicsreview.biomedcentral.com/articles/10....
edit: should be standard of living instead of quality of life.
When you are making minimum wage, every dollar counts in relieving the stress of simply trying to exist.