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TheOmnipotentOne18 karma

Is Obamacare constitutional?

TheOmnipotentOne2 karma

Its simple economics - supply and demand. When you raise wages, the demand for human capital decreases. The only two results could be inflation - the price of all goods will equalize by raising, or large scale automation. In the first option, nothing really happens. In the short term, there will be price factor differences but they will equalize over time- leaving the net effect of the inflation to be 0 because even though prices changed, values are the same. The second option would be much worse and cause widespread unemployment.