A patron of Economic Update asks: "There is an argument that states "if worker wages rise, the owner/board of directors will pass off the cost to the consumer which offsets the gains made in wages to the worker." Is this true? How would argue against this?"
This is Professor Richard Wolff's video response.
Submit your own question to be considered for a video response by Prof. Wolff on Patreon: https://www.patreon.com/economicupdate/community.
Learn more about Prof Wolff's new book, "The Sickness is the System: When Capitalism Fails to Save Us from Pandemics or Itself," available now at www.democracyatwork.info/books
“A magnificent source of hope and insight.”
Yanis Varoufakis, Greek economist, academic, philosopher, politician, author of Talking to my daughter about the economy
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