Quote:
Originally Posted by DGthe3
I don't think its legislation that drove the cost of living up in every developed country. And with increased cost of living comes demand for higher pay. Even if you removed minimum wage, there is no way that you could get people to work for $1.00/hr (and therefore be competitive with overseas workers). They'd have a hard time feeding themselves, let alone their family or afford things like a place to live.
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There is a correlation between minimum wage and inflation. Businesses that are effected by this type of regulation has to increase the amount of money their good is sold for in order to overcome the added expense of minimum wages. When the prices of goods are rising, so does the cost of living.