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Petty tyrant wants you to know he will be "forced" to unleash pain on workers. (hexbear.net)

submitted 10 months ago by [email protected] to c/[email protected]

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https://www.businessinsider.com/fast-food-operator-kills-vacations-hikes-prices-calif-wage-law-2024-1

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[–] [email protected] 17 points 10 months ago (1 children)

Cost won't rise because cost is determined by what people will pay for it rather than what it costs to produce. Any price rise is based on competition in the local area and whether it will decrease total customers.

[–] [email protected] 3 points 10 months ago (2 children)

Well, no, it’s a factor but. LTV and all that. Which still doesn’t mean higher wages means higher prices, I think.

[–] [email protected] 7 points 10 months ago (1 children)

LTV isn't about price.

[–] [email protected] 2 points 10 months ago* (last edited 10 months ago)

yeah no i guess i didn't think it did, was sort of worried you were taking the supply/demand narrative at face value but i'm dumb

[–] [email protected] 3 points 10 months ago (1 children)

Marx on the relationship between wages and prices

As we suppose that no change whatever has taken place either in the productive powers of labour, or in the amount of capital and labour employed, or in the value of the money wherein the values of products are estimated, but only a change in the rate of wages, how could that rise of wages affect the prices of commodities? Only by affecting the actual proportion between the demand for, and the supply of these commodities.

https://www.marxists.org/archive/marx/works/1865/value-price-profit/

[–] [email protected] 2 points 10 months ago

Makes sense