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It’s been declared a failure because the corporate overlords say so.
Yeah, the three percent rise likely would have happened either way. The prices are what the economy will tolerate not the cost of business. If the cost of business exceeds the price the economy will tolerate the business folds. This should make the businesses that are left over more efficient. The most efficient countries (highest GDP) tend to have higher wages.
Another perspective is that a 3% increase in prices - even without non-labor inflation - to pay people closer to a living wage reflects a more accurate cost of that dining experience. It could be that the public is subsidizing those restaurants' labor through social programs that make up the difference vs a living wage
As you noted, with the real (or at least more realistic) cost of eating out reflected in the pricing, consumers will decide if that experience is worth it. And some businesses may close. And that's called capitalism
People complaining about fast food prices come across as entitled to me. How are you going to complain about underpaid staff making you a meal as quickly as possible when it’s not even healthy or good for the environment?
I just don’t understand why this is a metric we measure things by. Are we that lazy that we can’t be bothered to make do without a burger sometimes?
Are we that lazy that we can’t be bothered to make do without a burger sometimes?
Yes. 3/4 of America is fat to super fat.
From a purely consumer perspective, fast food prices increased to the price territory of superior fast casual and independent restaurants while being significantly lower quality.
How did this happen without the other options increasing prices at the same rate? McDonalds lost their value proposition and eaters adjusted.
People didn’t stop ordering burgers, but they can get a great one over McD’s for maybe 20% more cost.
That's a good thing, though. They make shit food, pay people shit, charge nothing and do it fast. This is not really a business we need around. The only thing that benefits from McDonald's is people scratching their impatience.
I say let them learn to be a real restaurant that makes, you know, food, or fuck off. Keep cranking those wages up.
Apparently for some people in food deserts, it's their only viable option. Fast food prices going up means cost of living increased.
It obviously doesn't affect you, why are you bothering to care?
Exactly, just don't eat there.
then McDonalds goes under and nobody has a job!
...but.
How are we winning, people?
Apparently for some people in food deserts, it's their only viable option. Fast food prices going up means cost of living increased.
Yup. Overwhelming success for the economy as it always is whenever you raise the minimum wage.
Yeah, there's probably some level that's too high, but $16 to $20 per hour is pretty clearly a long ways from it still.
this post was submitted on 23 Dec 2024
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