There is no such thing as the wage-price spiral because wages are simply labour prices.
Don't blame workers for the inflation.
Discussion
If the price of the parts used to maintain a truck fleet increases with inflation, then it is logical that the price of the maintainers might also increase.
Inflation often results in an overall rise in prices, by raising the price of downstream inputs, such as energy or running costs.
Demanding labour suppliers swallow these price increases and therefore hide the inflation they *did not cause*, while other suppliers are free to pass them on, is to treat labour worse than other suppliers.
Which would be unjust.
The worst of this was shipping costs. UPS and others started adding a line item of "Inflation" to their commercial customer's label prices.
Credit card costs are (almost)always hidden to the consumer.
Upstream parts MFGs simply cut margins for 3rd party sales, and some even re-opening their online stores to further drive 1st party sales.
The only benefactor is the entity who takes a fixed percentage on the price... But we don't talk about that. Weird how taxes never seem to go down.
Yes, funny that.
thoughts on so called "price gouging"? Some suggest it helps inefficiencies, and should not be restricted during disasters.
High prices are the most-efficient cure for high prices, but we tend to fall to rationing life-sustaining goods that are temporarily short, such as drinking water after a bad hurricane, because we have to bridge the time required for the market to respond.
Tricky.
hoarding and gouging, the weasel words of socialists grandstanding over the misery of misfortune
Would you watch people die of thirst in front of bottles of water?
Property law does not always trump the right to life.
Has nothing to do with socialism. Socialists didn't invent those words.
You can both be right. At some point inflation could be bad enough that everything is a crisis and therefore prices are fixed. Socialism without calling it such, as Churchill said.
Prices go up for many reasons. Wages can be one of those reasons.
When unions demand higher wages, the prices goes up.
My point is that wages are the price of labor. They are not something opposed to prices. They *are* prices.
Labour, like all suppliers, can demand prices that are too high, but the market can correct for that by reducing its reliance on labour.