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Originally Posted by ITraffic
no one is going to go to a restaurant without any human element and interaction except maybe some lowest common denominator fast food garbage place.
most people are human beings, social beings, emotional beings not robots who live in their head abstractly and unemotionally.
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Then sit down 'coffee shop' type menu prices will increase at least enough to pay for the wage increases. I have no problem with that in principle --businesses need to maintain margins or increase sales volume to absorb higher costs.
During the 1970s and 1980s we got on the inflationary windmill it continued until 2008 when the balloon popped.
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What cost $100 in 2008 would cost $112.41 in 2015.
Also, if you were to buy exactly the same products in 2015 and 2008,
they would cost you $100 and $87.87 respectively.
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These are from the official department of labor inflation numbers -- they are on the low side maybe.
Point is: See what inflating price and wages got us -- currency devaluation.
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What cost $100 in 1965 would cost $759.42 in 2015.
Also, if you were to buy exactly the same products in 2015 and 1965,
they would cost you $100 and $13.28 respectively.
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Real earnings have declined for many people that is undisputed. Increasing the efficiency and lowering the cost of production is better than setting artificially higher wages. Real value is gained only in that way and in the innovation of new products.
Simply put: Paying more for the same old shit achieves nothing -- the same old shit just costs more.