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0 sats \ 0 replies \ @Solomonsatoshi 4 Jan \ parent \ on: Help me understand minimum wage logic better econ
Companies may wish to maximise profits but increased costs does not automatically or logically enable them to do so.
Increased costs simply reduces their margins.
In a free market if they increase their prices regardless they will inevitably and quite logically lose market share to competitors.
CEOs spout self serving duplicitous BS that is essentially an empty threat and a blatantly bullying political posture and you take it for gospel despite it being contrary to first principles of Econ 101 - explains a lot.
This is Econ 101 basics - that seem to have woooooshed over you in the Austrian Alps..