The extra money in wage earners’ pockets will increase inflation, but it will also help them manage higher inflation. It is a question of priorities and values.
Anthony Albanese wants a 5.1% increase in the minimum wage, but how would that affect the economy?
Looking at work, inflation and poverty, uncertainty and paradoxes means that there are arguments a motivated person might use for or against.
Effect on jobs
Economics 101 says higher minimum wages will cause companies to employ fewer people. The problem in Australia is not that enough people have taken economy 201, which says economy 101 is oversimplification.
Read more about the choice voters can make on May 21.
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