Topic: Is increase in minimum wage a good method to fight inflation? (Read 2003 times)

Easy to say but it would really be that so damn hard for  you to get out and trying to get themselves on testing out a new phase or path to take specially if they are someone whose really that totally relying with their day job salary and also have tons of responsibilities or priorities then it is really that actually on trying out to make up such step. You would really be needing to take up some risks whether you would really be that
trying to test out some investmenr or business on which we know that it does require capital for you to start and since you are really that relying with your paycheck then you would be that skeptical on this case.

This is why we do missed out different opportunities just because of those kind of hindrance on which this is something that will really be that giving us out on a no choice situation but to accept the fate
on what we are currently experiencing. Therefore, it will really be just that depending on the risks taking that you will really be trying out to do. We are indeed living on a shit system on where
people will be always on that rat race where we do work, pay debts,pay bills until we die.

This is really indeed a sad cycle on which people would really be needing to realize at least. Im also that on such situation on which finding up methods or ways that you could
really be able to break that shackles with this shit system and make yourself at least having that kind of freedom on which everyone is really that trying out to achieve or obtain.

Saving alone can't help you escape inflation. In fact, if you are saving in your local currency, the inflation will really hit you so hard that you will find it difficult to escape because the money you have in your bank account might remain the same, but the purchasing power won't be the same again, and the value will drop down based on how affected the economy is. 
 
The best way is to invest smart, at least allow the money to be circulating and be given you profit. That way you won't feel it that much since you will also make some change on your price when ever there is an increase.

Increasing the minimum wage is pointless because how many people will be able to afford to pay the minimum wage. If you are been paid a minimum wage, you are expected to pay your driver a minimum wage as well regardless because you clearly employed him to work for you but we know that many people can't do that. Even the governors are complaining that they can't pay the minimum wage because of their state allocation is very small.

Everything is wrong about increment of minimum wage when your country is dealing with high inflation because you will only be increasing money in circulation which will make the economy more valueless and if they decided to increase the tax, they will only make life unbearable for the citizens. Everything is wrong with increase in minimum wage with high inflation.

You're telling people to pull themselves up by their bootstraps, while the system is rigged against them. It is not about to happen

Look, a higher minimum wage isn't just about more money in people's pockets. It's about conveying a message: We respect your job, your time, your life. Instead, though, we are caught in this bureaucratic nightmare arguing pennies while the rich become richer. Its quite a joke

And then we tell people, "Just work harder, be smarter, create your own opportunities." We seem to be preparing them for a race, although the course is burning with fire. How the hell are they supposed to win

People need to get off their asses and figure out the game is rigged. The system is built this way; it isn't broken. And nothing will change until we modify the guidelines

With the way things are going in the country increasing the minimum wage isn't really going to fix anything. What the government fail to ask themselves is, after increasing the minimum wage will people be able to afford basic things?? The answer is no, the average man in Nigeria struggles to keep up or provide for himself because the prices of things are on the high rise. Increasing the minimum wage in a time when the prices of goods are almost unaffordable is a total waste of time. Let them do well to fix the economy by dropping down the price of petrol and working on other things before talking about increasing the minimum wage

Inflation is due to limitations of government decision and many countries suffer due to Bad government policies. They are taking taxes and they are sending that money in their personal account and almost 95 percent politicians are corrupted people and they Only give good statement in the media and they show that they are working for the development of country but actually they didn't any work for their country. Government is giving jobs to the youngsters and in many countries youngesters are involved in crimes due to hunger. Government should give loan to that young persons for Business and they should open free business schools.

At least the government must provide a positive way to overcome the inflation that occurs, because they have a strong influence to overcome it, including yourself, it can be done simply to overcome inflation, such as starting to save and not spending too much on unnecessary things, that's among them.

Totally depends on the government initiative whether they would be mindful about on how to make it less as much as possible.Take a look unto those countries which does have that less inflation yearly on which it do really shows that it is really indeed possible but well this can't be easy.This is why rather than making yourself that waiting for governments action, then why you cant just that make your own step to at least make yourself that sustainable? It all matters about hardwork and wise decisions to be made on. When you are really that trying out to be having that good life in terms of conditions or financial aspect then it would really be that recommended on doing such things. When it comes to increasing minimum wage then this is something that cant really be done so easily or something that would really be applied or be changed up.
Before having this kind of raise in salary then it would really be taking tons of meetings and whatever proceedings just to make it happen on which we know that not all would really be that agreeing upon or simply
they are following up some protocol or whatever considerations that they might really be that looking into. This is why for personal approach then better to find for some investment and made out some business
if you are really that serious on trying out to make that change or survivability.

Increasing the minimum wage is not the best solution to solve inflation ,there are many way the government can solve this problem but it seems like they are not ready to do so.This problem can be solved by improving the overall security challenges because it is the main problem causing  inflation. And again the security problem affect the transportation sector with is the key reason for this inflation.
 The government are the people who remove subsidy and that was the main factor that brings about inflation so them increasing the minimum wage doesn't gives a guarantee that the problem is solve.This might even increase the inflation in some instances because many business are planning to increase the price of their product so as to raise enough money to settle their work in the new minimum wage.
 My on take on this issues is that the government address solutions that will be beneficial to both the working and non working class citizens.

The reality is that increasing the minimum wage will not help a lot. A wage increase will raise businesses' production costs. And to offset those costs, businesses will raise prices. This will cause inflation.

The government should ensure main resources to have stable prices for business. This will help to reduce production costs and keep inflation stable. And it will not devaluaing the currency. And finally, inflation can be controlled.

In countries the government are actually trying on improving the economic hardship through workable policies but for a couple of others the problem happens to be with perhaps the administrators competence in the public offices or that the politicians in the helm of affairs doesn't consult the input of the administrators before embarking on taking certain decisional policies that later turn out to be of little or no impact on the economy.  If a serious study is allowed to thrive before making decisions on tackling inflation maybe we won't have found the global economy where it is now.

Its governments responsibility on which it would really be having that consideration on balancing everything. Also, making up some increase on salary or wages will really be not an easy on which there would really be
tons of considerations before they would really be making out such changes. Sometimes we could really be able to say that the government doesnt really look care on what are the condition of its citizens but actually
there are really goods and services on which it cant be controlled in terms of increasing value or prices on which even the government wouldnt really be that get a hold of. This is why as a personal approach on things
then it would really be that sensible that you would really be finding up your own ways and methods on which you could really be able to make yourself that get a hold of your condition.
If you do find yourself on struggling then it would be just that right that you do need to find another place or things on which you could be able to earn on. If you do find yourself having that kind of struggles
then it would really be just that wise that you should really be doing such act if you dont really like to stay up on being poor. So it would really be just that depending on you.

It would help but that much to be considered because judging how much do you think that would be increased to reduce or eliminate inflation? Even though every civil servants minimum wage is being doubled x2 or 3x you think it would still solve the underlying problems out there, to me this won't help either but the important thing to do is to raise and trained a body that could help to monitor the price of goods and commodities, and government should set a specific amount and price for some times to be sold and this body or agency are the people to keep watching the prices of goods and whatever items in the market being stores and malls when the prices are unbearable then the agency has to sanction such company or mall or such entity to know why the sudden increase on their products.

With this even though government decided to increase minimum wage it would also help and that payment will be worth enough and could also reduce inflation. But if not handled and went to increase minimum wages, the price of good and commodities would also doubled as well at then it will seems nothing was done by government and yet the problems not still solved.

What you are saying is correct because the reason of any government to increase there minimum wages is not to fight inflation but instead they only use that method to balance the system abit in such a way that every monthly salary should be able to worth something tangible for the person because we all no what inflation in a country is all about and it seriously involves higher price of commodities as such making it very difficult for people to afford, imagine when a month salary of someone cannot afford food stuff that can last for the person at least a month, so the idea of increasing the minimum wages is a good measure to help there citizens reduce things a bit, though most of the people believe that the idea of the government on increasing minimum wage is to fight inflation but that's not it.

I am not saying that increasing the minimum wage is the government's way of fighting inflation, but this increase in the minimum wage must be considered as a solution so that every wage earner is not too affected by inflation.

If the government never considers increasing the minimum wage, then it is certain that whoever receives this salary will never be able to meet their monthly needs from the salary they receive. Rising prices of goods mean that money is no longer worth as much, so increasing the minimum wage is just a solution that should be considered.

When governments increase the minimum wage to combat inflation, production costs also increase. Increasing production costs means increasing prices. Increasing prices is one of the things that causes inflation. This may not be the same in every country, but in some countries, increasing the minimum wage or salary causes the prices of many things to increase. This is wrong and a situation where the government should intervene.

For example, a business pays its employees more as a result of increasing the minimum wage and increases the products it sells to recover this salary expense. Both the employees and everyone else are affected by this increase. When governments fight inflation, instead of increasing salaries or minimum wages at certain times, they should find ways to stop inflation and keep prices down because when minimum wages and salaries increase, the prices of everything indirectly increase.

As I said above, this is not the same in every country, but it is the case in many countries.

The government must issue a new regulation to increase the minimum wage as an effort to adjust the price of goods and services that are increasing due to inflation, increasing the minimum wage will help people to finance their living expenses and they can work in their main jobs without having to look for other job opportunities. A wise government will immediately take important actions to stabilize their economy from the impact of inflation but a bad government will not care about the economic life of the people and delay the decision to increase the minimum wage. I hope the government will immediately legalize the new regulation because I am very sad to see the lower economic class screaming to find funds to survive in the current worst economic era.

Although the government has tried to improve the inflation rate that has occurred, by implementing policies that continue to improve, in fact other sectors have been affected, it is necessary to study it more deeply before making a decision to overcome this inflation.

I'm not sure about that, the government knows and understand the real inflation, In fact they know the lapses and know where to fix but it's either that they are been clueless and doesn't want to do the right thing or they think that it will affect their own policy that wouldn't favour them so they will cut numbers so people will think that the economy is not as bad as it were portray in the media, such makes people calm even though the economy is sinking.

If real value of inflation are been determined and put put there, do you think the purchasing power of currency would be were they are right now after many years. They would have remain the way it were in 1990 and early 2000 but the currencies doesn't have that value again and all are from the effect of inflation that the government couldn't control which is what we are facing here today.

at least it will take quite a long time to recover, your opinion is correct, the need to increase the minimum wage, but that is not the only way out to overcome this inflation, there are still many other ways, the need to comprehensively fix the causes of this inflation, by increasing production results it can also reduce the inflation that occurs.