• lolcatnip@reddthat.com
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    1 year ago

    Landlords and groceries can just raise prices to bring the cost of living up

    Sigh. People make this braindead argument every single time this subject comes up. No they can’t. Markets do not work that way. It’s literally just a repackaged argument against minimum wage and it has been thoroughly debunked in that context.

    • Peaty@sh.itjust.works
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      1 year ago

      We literally just witnessed this with COVID shutdown. Im not sure why you think people getting handed money will not increase pricing as that is usually how things work.

      • Omega_Haxors@lemmy.ml
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        1 year ago

        Not to poopoo your point too much but inflation only happened after covid because a recent war gave justification for greedflation. You can’t really argue money is losing value when CEOs are raking in record profits during an economic downturn.