Los Angeles just raised the minimum wage to $15/hour. Many cities have done or are in the process of doing something similar. I am pleased by these developments. No one working full-time should be dirt muthafuckin poor while their corporate execs stack it up. I do have one concern though.
Raising the minimum wage will, undoubtedly, take a bite out of a company’s bottom line. And what will the company do in response? Will they lay off workers? Will they cut hours drastically? What if improving wages ultimately means net job losses? This really isn’t hard to imagine.
I think the problem is deeper. The problem is an obsession with profit over and against the well-being of people. As long as profit remains the bottom line, corporate decision-makers will have no qualms about raising the minimum wage (as a concession) knowing that they can counteract the effects with even more economically-crippling punches. We need a radical values shift that will manifest in a more humane economy.