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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: combjelly who wrote (748105)	10/20/2013 1:29:54 AM
From: i-node	1 Recommendation Recommended By FJB Read Replies (1) \| Respond to of 1572094

>> Yes, if a Big Mac suddenly jumps to $20, Mickey D's is likely to see a drop off in business. If they go up by a quarter, people may bitch but they aren't going to change much. Great as long as you're not one of the people who become unemployable as a result of the increased wages. Seems like someone has to explain this to you every couple of weeks.

To: combjelly who wrote (748105)	11/10/2013 12:12:15 PM
From: TimF	Respond to of 1572094

Cost of labor is just one of the costs of doing business. And if the costs of business go up you look for ways to minimize them. More automation, working the employees you keep harder (and since your paying more you can get away with it), sometimes worse service (depending on the particular market and your competition), higher prices (reducing the benefit anyone would get from the higher wages, and also likely reducing total sales), in the marginal cases expansion is less likely, etc.