Prof G Markets: First Quarter Review — with Aswath Damodaran
The Prof G Pod with Scott Galloway
Balancing Impact of Minimum Wage on Food Prices
Raising the minimum wage impacts food prices, either by passing the cost to consumers resulting in inflation or shrinking margins, or absorbing the cost internally. The speaker supports the rise in minimum wage to provide a living wage to those without opportunities in the information economy. They also view it as a solution to address the obesity epidemic linked to cheap fast food. However, they acknowledge that another consequence could be job layoffs, exemplified by recent instances in California.
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