The Capitalist’s Case for a $15 Minimum Wage

[Purplehazed]

4. All businesses should pay a living wage.....

Mr. Hanauer's article , I think is a little too simplistic. A sudden doubling of the minimum wage should indeed create a surge in demand of consumer goods and would be a positive spike in the economy. Prices however, would also increase to cover the increased cost of labor. That is inevitable. The losers in this equation will be those that already earn wages in the $15 -20 range. They will experience the price increase without a corresponding doubling of their wage. The top wage earners would be relatively unaffected.

Minimum wages should be raised over time to allow the economy to readjust. I don't think that a sudden spike in the minimum wage is a "elegant antidote", instead it transfers wealth from lower wage earners to the lowest wage earners.