That’s just fine, they’ll get a job at that higher minimum wage somewhere else.
Reminder: the true minimum wage is always zero -- what you get paid if your employer eliminates your job due to higher 'minimum wage' laws. https://reason.com/blog/2019/01/24/minimum-wage-hikes-threaten-new-york-cit/amp?__twitter_impression=true …
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That's not how labor markets work bro.
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A reminder that the only way to *sustainably* increase wages is by increasing the underlying productivity of workers. All other methods have collateral effects.
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(productivity used here in its broader meaning; not (only) the worker working more, but also having higher leverage, or being able to produce more with the same amount of energy, or with less waste, etc.)
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Reminder: your employer will replace you with machines the moment it's more cost productive to do so regardless of the minimum wage.
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By the way, isn’t Capitalism supposed to support itself? If your business can not afford a lynchpin expense it deserves to fail.
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Businesses will always go for the cheapest labor available. Even if it means using illegal labor. Ya see, supply and demand doesn't apply to peasants............
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There are no winners when businesses are forced to artificially compensate labor beyond its market value. Prices rise. Demand drops. Unskilled workers lose jobs.
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The data is much less dire in minimum wage increases than the folks at “Reason” would have you believe. Here’s the positive case, though the intellectually honest person might conclude based on a range of studies that the data is mixed.https://www.google.com/amp/s/www.seattletimes.com/business/economy/minimum-wage-increases-in-six-cities-working-as-intended-berkeley-study-of-food-service-jobs-finds/%3famp=1 …
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But this new study was done by the New York City Hospitality Alliance! Surely the lobbying group for restaurant owners would conduct only the most thorough and unbiased of research!
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