Raising the minimum wage does not make the employee more valuable or productive. Only experience, specific skills and a tight labor market arising from a robust economy increase wages.
The external observer cannot view the employer’s profit margins. Evidence is mounting that raising minimum wage to $15 an hour has forced some fast food operations to liquidate. Raising minimum wage also prices teenagers out of labor market. See Milton Friedman’s remarks in Free to Choose.
Charles Courtney
Riverside
