[anonytrary]

Free market at work:

  1. Restaurant workers quit
  2. Restaurants raise wages
  3. Restaurants get workers back

Minimum wage seems to be out of this equation. Natural market dynamics will self-correct and the wages will naturally rise as literally any other price rises when inflation occurs. To be honest, I'm not sure what minimum wage is other than an artificial constraint. Workers obviously are willing to quit jobs with low pay, so why does the lower bound of pay need to be enforced? It seems contrived. If anyone can explain how minimum wage affects the above scenario, I would be grateful.

[it]

You forgot to mention the part about the restaurants that can't afford to raise wages either cutting hours or shutting down for good.

[megablast]

Think of all the cool restaurants we could have if slavery was allowed again.

[anonytrary]

Unsound business models can only exist for so long -- are all restaurants closing, or just those with extremely small operating margins? If a restaurant is operating on such small margins that they can't raise wages to keep their business open, then it makes sense for that space to be used by a restaurant owner who can run the business more effectively.

I fail to see how this isn't just capitalism and competition working as expected. The majority of restaurants react to this by raising all prices -- including wages. The food costs twice as much now, and they are paying their staff twice as much. If people don't want to pay the price, maybe it's best that a better restaurant takes its place or the restaurant improves their offering?

[ffggvv]

you forgot the part where the socialist government is printing unlimited welfare and handing it by the truck load. it’s hard to compete with free money

but luckily part of it ends in september