DP Smith
1 min readMar 18, 2021

--

This has taken a complex debate and oversimplified it. You argue that people will lose jobs with a wage increase, and you are probably right. But how many people will finally be able to cut the number of jobs they are working from 2 or 3 to 1?

Secondly, inflation is happening regardless of wages. Since 2009, when the minimum was last raised, housing, transportation, and even Big Macs have gone up in price. So minimum wage earners are now poorer than they were 12 years ago.

Finally, you state the importance of productivity. High productivity definitely suggests an efficient economy. But wages became uncoupled from productivity in the 1980’s. So Americans are more efficient than their mid-century peers but are getting paid comparatively less. Had wages stayed coupled to productivity, economists estimate the minimum wage today would be between $19 and $24/hr. $15/hr seems pretty reasonable in comparison.

--

--

DP Smith
DP Smith

Written by DP Smith

Writing about history and occasionally current events. MBA, BA in History, former Armor officer.

No responses yet