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Originally Posted by phoenix
always find it interesting but not surprising that many economist will find a study that will support their ideology ( Paul Krugman is an example) . There are a record number of job opening over 8m right now. As SAMIAM said kitchen help can make 15 per hour working or 15 per hour not . Most people will make the logical decision . Business will have to make the rational decision which the VK did that is close for dinner. They know their customers and raising prices by a lot will drive customers away. By the way I am a graduate economist( certainly not bragging ) and very few economist have ever had to manage a payroll.
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One thing that economists on both sides of the aisle have pushed for over the past 5 years has been higher bargaining power for working class Americans. *****'s immigration policies, *****'s covid relief, and stated objectives of both, have all included policies that put direct upward pressure on domestic wages. Setting aside whether this is a good thing or a bad thing in general, no economist should be surprised that Sam is having a tough time hiring this year (or next...)