>paul krugman
>capitalist pig

Seriously, economics is just a debate about how to distribute the wealth. There isn't any objective answer to it as you seem imply.

Not at all. I'm just saying there are a lot of armchair economists - particularly in my country - like Owen Jones and other Guardianistas. I may not be a Keynesian or a technocrat, but I know when to defer to what is essentially economic consensus on an issue.

While Krugman isn't really a die-hard Keynesian as some seem to think, I still think he's going where the evidence suggests.

As far as I know, money only gets devalued when more is added in circulation, not when more is paid out to workers.

Not necessarily.

The idea that there was a concrete link between the money supply and inflation was essentially unhinged in the 90s, which led Milton Friedman to renege on monetarism.

I think it has something to do with the demand for money.

Also, a rise in minimum wage would probably result in an increase in the monetary base, thus causing inflation, or result in slower labour growth, thus causing unemployment.