Rixuyo [any]
Do you have a source on that back channel arrangement? First time I hear of it.
Counter point: pasta straw
This is my go to argument that is easy to understand for most people. Labour cost is not 100% of the total costs, so a $1 increase in salary will not result in a $1 price increase but at most, let’s say, $0.50. This means that a salary increase will always improve purchasing power, as the salary relative to the product price changed in favour of the worker, despite any smaller product price increase.
Wasn’t there a theory that every company is turning into a bank, because basically every company is doing loyalty programs, which are basically their own currencies. Think airplane companies, hotel chains, etc. For some only their loyalty program is turning them a profit, and their core business is a loss making part to support the loyalty program.