Quote from: shinratensei_ on Today at 03:08:18 AM

Quote from: Casalania on February 13, 2024, 08:04:16 PM

Raising the minimum wage may provide some temporary relief to workers struggling to cope with rising prices of goods and services. However, this measure alone is not a comprehensive solution to the problem. It fails to address the root cause of the issue and is therefore not an effective strategy in fighting poverty.

it instead might increase inflation to be more rampant because the worth of money in the perspective of people also decreasing as mentioned by OP but yes it will give relief temporarily but overall its just delaying problem that needs to be focused, the solution would be best if the government could incentivize production on certain thing like food by giving tools and so on so that the price of food gonna decrease or anything out there that are becoming expensive due to inflation because the supply is high.
just basic economic that if the supply vastly surpass the demand it will automatically become cheap enough, by boosting production, certainly it will not make the people working in that sector suffer.
but well, i guess government knows best about what to do but sometime implementation is just hard.

Focusing only on specific areas like food can cause prices of other products and services to increase. This can lead to an imbalance in the economy. A better solution would be for the government to create a more comprehensive plan or to reduce their spending. They could also increase taxes to discourage excessive spending by individuals.