Nick Hanauer: Raising Wages Increases

Posted by admin on Friday, January 15, 2016

Nick Hanauer Money Quotation saying Increasing available spending money among workers means they’ll buy more and create demand. Nick Hanauer said
 
Raising wages increases demand, which increases hiring, which in turn increases wages and demand and profits Quote
 

“Raising wages increases demand, which increases hiring, which in turn increases wages and demand and profits” — Nick Hanauer

 

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In this quote, Nick Hanauer is arguing that raising wages for workers will have a positive effect on the overall economy. He claims that higher wages will increase consumer demand as workers have more money to spend.

This increased demand then encourages businesses to hire more employees to meet the higher demand, which further raises wages. And this cycle of higher wages leading to more demand leading to more hiring and higher profits can continue as each part reinforces the others.

So in essence, Hanauer is making the case that raising minimum wages does not necessarily hurt businesses and the economy, but rather can spark economic growth by putting more money in the hands of low-income consumers who will spend it, driving demand and job creation.

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