[quote=XBoxBoy][quote=sdduuuude]
An increase in labor cost is devastating to a business plan because it can force a business owner to raise prices so much that their own business becomes no longer viable. It is a frightening prospect.
[/quote]
If a business is no longer viable because market rate for wages rise that’s not something to cry about. That’s called capitalism. The constant replacement of existing businesses with businesses that are more capable of meeting the market’s needs is a strength of market based economies.
[quote=sdduuuude]
To call them “cheap” is very unfair and demonstrates a lack of understanding of what a business owner has to deal with..[/quote]
As a former business owner, I don’t agree. If market rates for wages rise, a business owner needs to pay them and/or find other ways to maintain employee loyalty. Not whine to the media about how they can’t find employees. And given how incomes for the wealthiest part of our population have risen so much and how rank and file workers have lagged behind, I suggest you rethink where you put your sympathies.[/quote]
“Sympathies” is an odd term. It isn’t a matter of sympathy, just an understanding that business owners are not being “cheap” any more than the laborers are being “greedy”. Both pushing as hard as they can for their own best interests.
Business owners aren’t the government – they can’t just print money and hand it out. It has to be given to them by someone they help in some way.
