you say “Increasing the minimum wage without a corresponding increase in PRODUCTIVITY will absolutely cause inflation”
If that is true, would 40 years of productivity increase without corresponding increase in wages absolutely produce deflation?
Its a fair question. It may explain zero interest “loans” for big banks and hot money creating local real estate bubbles and astonishing rents, and investments in factories in Vietnam. The hot money creates big chain competition for small business.
We need to turn the vicious cycle into a virtuous circle.