Quote from: Smack That Ace on Today at 10:14:26 AM

Quote from: Rockstarguy on December 03, 2024, 02:40:32 PM

Quote from: Zlantann on November 30, 2024, 07:11:21 AM

Quote from: TEBTC on November 29, 2024, 11:42:23 PM

Inflation involves the increase in price of goods and services in the market making things unaffordable to the common inflation is one word that has really affected allot of people, looking at the market price of goods and services as been affected rapidly.
Inflation is really affecting the common man as even though those salary earners are complaining as the price of goods continue to improve and skyrocketed high inflation rate is really a Thorn in the flesh of the common man

The government increased the minimum wage in my country recently and some employers are demanding more from workers. My boss even wants me to take on more tasks because our salary has increased. And I told him that I had been living comfortably last two years with lower salary. I can't save from my current earnings but I could two years ago.The increase in salary is worthless because it has lower purchasing power than years ago. With the level of inflation moat countries are going through, if you don't have multiple streams of income, you might not be able to afford basic needs.

I think the increase of minimum wage don't even make any difference and people can't still afford things. What would have been best for the government to do is to try to regulate the price of commodities, and try to improve the economy in whatever they can to reduce the rate of inflation. If nothing is done to the economy and the price of minimum wage increases, inflation will still be on the rise even as the government increase minimum wage, it will just ge as if the minimum wage has always been the same.

So I think increase of minimum wage is not the solution for inflation, it will even make things to become worse because marketers would want to increase the prices of things.

Raising wages is one of many ways to tackle inflation and the government is not wrong in doing so. But as you said, this only works if the government can control inflation and stabilize commodity prices. On the contrary, if they just increase wages without trying to reduce inflation and the prices of goods continue to rise, then the wage increase is meaningless or they are just trying to deceive the people.

But we need to know that it is not easy to solve inflation because most countries are interconnected and if big countries have inflation, small countries will be implicated and cannot solve it by themselves. It can be seen that the government also has its own difficulties and things are not as simple as we think. Therefore, a salary increase can also be a very effective temporary solution.

Governments actions and management will really be that having that impact on how things will really be that working out and if they would really be doing something to balance up on things then they could do something about it but bare in mind that not all things is controllable specially into those world market prices on which there's no way that they could be able to control it out. They are only that good when it comes on controlling that prices will really be on that considerable value and not overprice but doesnt mean that they can lower it out below on market prices on which we know on how supply and demand works.

Increasing up the number of jobs available? Possible but it wont really be enough on covering up all of the jobless people or citizen who do reside on such country, but somehow on taking up some action will really be at least trying to lessen up those numbers who dont have a job.