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by anthony_james
3748 days ago
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That's not necessarily true. A $15 minimum wage is a doubling of the wage rate in most states, and as a result, doubles the incentives for someone who automates the minimum wage jobs out of existence. It's all relative. If we assume entrepreneurs want to deliver a million dollars worth of value and the minimum wage was $8, they would have to automate 125,000 jobs out of existence in order to achieve $1,000,000 worth of value-added. With a $15 minimum wage, they now only need to automate ~67,000. That's almost half the work they'll need to do now for the same result. |
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