They could keep it the same price AND pay their employees a living wage AND they would still be billionaires.
The Wal-Mart business plan proves nothing trickles down. The entire supply chain has been squeezed to benefit the Walton heirs.
Posts like this completely ignore the effects on small businesses though. Groceries, to keep with the example, are already an extremely low margin business and many places without the economy of scale of a huge corporation might be fucked out of existence by too high of a wage hike. Obviously wages should keep up with inflation but we need to understand the implications of raising them TOO much (ie eliminating competition for big business, thus giving them even more monopolistic control of the market)
Counterpoint: if we all have extra spending money, that stimulates the economy. If people no longer just get by, they can start spending at small businesses such as restaurants.
The effects of minimum wage hikes are not super clear.
Economies of scale exist for a reason, they are more efficient and they reduce prices.
To complain about small business being crushed at the hand of big corporations is useless. They were not meant to succeed unless they are able to expand and take advantage of the benefits of economies of scale.
Small businesses are no different than large ones, in that they’re profit seeking entities. Just because one smaller company hopes to profit off you and is having a tougher time doing so doesn’t mean that they’re moral or good people. Fuck them, if you’re using their problems as a way to advocate for lower wages, then the low wage workers are still suffering, just at the hands of a thousand little devils than one big one. Doesn’t make a difference to me. Doesn’t make a difference to low wage workers. Doesn’t even start to make the markets more efficient.