chapotraphouse

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

submitted 2 years 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 2 years 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 2 years 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 2 years ago (1 children)

LTV isn't about price.

[–] [email protected] 2 points 2 years ago* (last edited 2 years 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 2 years 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 2 years ago

Makes sense