Abolishing the min wage alone, is definitely not the answer, and I apologize if I have been giving that impression, but as we have seen with the last 20-30 minimum wage increases it isnt the solution either.
Raising the wage doesn't solve the problem, yet its the only course of action you are willing to entertain... enlighten me as to why that is?
Everything below is from an economic standpoint so I don't want to offend anyone by potentially being insensitive.
Well, first of all, we live in a world that has disrupted economic trends all throughout history by colonization, slavery, world wars, and all other violent and nonproductive events. We have people that whine about centralized control and government interferences when it wasn't a problem when the country was all over the world robbing resources. If you gain externalities (resources not accounted for in the region's economy) you inherit their problems and you create a system dependent on government interventions due to the centralized control of said resources. Let's start with the late 1800's when USA was growing the most due to these world adventures.You can then dive into the steel, railroad, and other monopolized industries who act as profiteers and vulture on political discrepancies. Here you see clear tendencies of people not caring about the country's progression but instead of their own wealth. This egoistic outlook is followed by the disregard for human well-being in the late 1800's/1900's in the meat industry. Because slavery and other economic traditions was prevalent, employers did not see any need to tend to employees welfare hence the book "The Jungle" and government regulations to protect workers.
We can then continue onto the 20-30s
where the economy was a laughing stock to the world. Then we can go to the 30's all the way up to the 60's where EMPLOYERS, not the government, removed a large part of the workforce due to their racial makeup.
That is why I believe that it is the only course of action.
I can go deeper if you want but my main point is that the government has to interfere in the economy or else human instincts, or fukk that, AMERICAN instincts of greed and independent success will prevail and 60-70% of the country will live in poverty forever. It's a mentality that the country has built up due to their reluctance to the rest of the world and being a dominant force in economic aggression and being dependent on external human and natural resources. Again, the current economic set up is dependent on a overseeing body since it was nurtured by it.
So now to the contemporary; raising min. wage is the only option to ensure a distribution of wealth since it is the only method that forces employers to regard their workers' value. The value of a lower-tier worker
should increase at the same rate that an medium or upper-tier worker does in places like San Jose. The companies that pay min. wage are usually restaurants and service-based firms who serve customers that work at the places that are expanding. So if Mcdonalds, for example, decides to raise the cost of a Big Mac (which they have in SJ, Pleasanton, Mountain View, San Francisco etc) then the employees deserve to gain from the revenue increase. This false logic that companies are hurt by the increase in wages is what is toxic to this country on all levels. CostCo and Trader Joe's are two of the fastest growing companies in California and you don't see them complain about the rise in cost although they already pay high wages.
But you missed the point of what I'm talking about.
These mini wage increases have not been around long enough to truly know how helpful they are.
Employment has JUST rebounded in parts of the country.
I perfectly understood your point. You're saying it's too early to know and I'm saying that it's not.