Originally Posted by chadta
So do things the Walmart way ? sell many things for very little money and make alot of money, well which is it ? is Walmart the most evil company ever or are they a model that we should be following ?
Well that's an extreme example. Again, the concept here is rather simple. Our economy has a massive demand problem. The only way to increase demand is to put more money in people's pockets. The lower down the food chain, the more effective the stimulus effect. Higher wages does not have to lead directly to an equally large increase in prices if spending and demand increase. I know this is hard for you to understand but it's basic economics.
I'm not saying this is "the answer", and I'm not saying $15/hr is "the number". I'm only suggesting that this theory has some merit to it that is worthy of discussion. And you can certainly argue that this is favorable to handouts and tax cuts. This will work for efficient industries and efficient businesses. Those that aren't efficient may struggle and even fail. Darwin would be nodding his head.
Ever heard the expression "a rising tide lifts all boats"? Look it up.