Here’s some good reading to follow up on yesterday’s show about Wal-Mart.
When fast-food workers staged protests this summer to demand the federal minimum wage be raised from $7.25 to $15 an hour, even sympathetic observers weren’t optimistic about the prospects. There seems to be a ready supply of people who will work for low wages. And higher wages could lead to higher prices, which few so far seem willing to pay; my colleague Venessa Wong figured that if fast-food wages doubled and companies did not reduce other costs, the price of a Big Mac could increase by $1 to offset the increase.
via Fast-Food Wages Come With a $7 Billion Side of Public Assistance – Businessweek.
