Wouldn't the effect of the wage stay the same? If $15 is going to cause job loss and price increases via min wage, won't it do the same if caused by the market?
Not at all because it's not across the board. Each market will determine what wage will attract workers.
What is going to be below garlic farmers? I don't see how the same people can call for doom with a $15 min wage, but then applaud it when the market reaches $15. Doesn't make a lot of sense.
The difference is between encouraging an economy where market forces lead to rising wages and better standards of living for Americans,
rather than using government force to make employers pay more when the economy does NOT call for it, and won't support it.
I understand the difference. Either way I don't see doom. But the right has claimed $15 would doom jobs.
What we claimed is that it would reduce labor, and we are correct. McDonald's and Wendy's are both investing in automation now. When you buy machines to replace humans, it does cost jobs.
Actually every industry- regardless of minimum wage- is trying to replace humans with machines.
At most- at the very most- increased minimum wage may have accelerated McDonald and Wendy's trend towards automation.
Automation will be happening with- or without minimum wage increases.