• BigMacHole@lemm.ee
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    5 months ago

    After DECADES of seeing Prices Stagnate I’m FINALLY starting to see them Increase! It’s been LITERALLY DECADES with them NOT going up at ALL! But NOW they FINALLY are because of this Minimum Wage Law!

    • DantesFreezer@lemmy.world
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      5 months ago

      As I recall prices have been going up for a long time. Nationally I believe all fast food chains have increased prices way beyond the rate of inflation for the past 12 years.

    • Samvega
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      5 months ago

      Yes. Profit isn’t based on smiles and good feelings. It’s based on someone working harder to make someone who isn’t doing anything a profit.

  • dudeami0@lemmy.dudeami.win
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    5 months ago

    This is what happens when you try to extract more and more value off the top of labor, without any added value other than line must go up. When suppressing wages is the only way to improve corporate profits, profits are capped and stockholders hate this. This is in theory suppose to encourage innovation to increase efficency (without just resorting to skeleton crews or pressuring labor for more output). Monopolies stop innovating due to market control and look at other methods of increasing profits with leverage rather than market competitiveness.

    • bean@lemmy.world
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      5 months ago

      It’s true the biggest issue with capitalism is that it’s ‘not ok’ for that line to go down, ever. It’s ridiculous. A healthy business can ride things out up and down over time if they have good policies and smart planning. Prioritizing shareholders above all is a shell game.

    • Avid Amoeba@lemmy.ca
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      5 months ago

      Firms have leverage over non organized labor even when they’re much smaller than monopolies. Especially at the lower end of the pay spectrum. Running the economy not at full employment guarantees there’s a replacement waiting for a worker attempting wage negotiations. But at the whole spectrum, unless there’s a significant labor shortage in some skill set, individual workers have much more limited negotiating power than firms. So firms employ labor abuse instead of innovation even when they’re small. Perhaps even at the small business stage.

  • PancakeTrebuchet@lemmy.world
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    5 months ago

    Can’t forget those shareholders! It really worries me what things are going to look like in 30-50 years time. There’s only so much you can squeeze out of people until there’s nothing left.

    • Eeyore_Syndrome@sh.itjust.works
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      5 months ago

      Yea well citizens unitied and now corps have more rights than human lives.

      I love how Serve Safe™ has a monopoly for USA food certs.

      It’s owned by the National Restaurant Association of America

      They wanna bring it back to 1919 lol.

      I’m just a 38/yr old burnt out line cook, now disabled with Fibromyalgia but yea the entire industry should just 🔥 I feel.

      COVID unemployment payments taught me how much the government thinks minimum wage should be, in the cruelest sickest way lololol. 🥹