> Firstly, minimum wage is politically unpopular in most areas.
In the US raising the minimum wage is wildly popular, with 89% wanting to raise it some amount and 62% supporting $15/hr.
> For every dollar you impose on businesses, a % is going to be eaten by inflation, a % is going to into reduced labor demand, and a % is going to families well above the poverty line (second or third household earners).
Only if you assume a perfectly efficient labor market, which is often far from how things play out in studies regarding the minimum wage.
> This is why you see lots of Western countries not even bother with them.
There are only a handful of western countries without a minimum wage and most of them either have very strong collective bargaining, a strong social safety net with some form of guaranteed minimum income, or both. I think those are reasonable policies but they aren't what opponents of the minimum wage are generally advocating for.
In the US raising the minimum wage is wildly popular, with 89% wanting to raise it some amount and 62% supporting $15/hr.
> For every dollar you impose on businesses, a % is going to be eaten by inflation, a % is going to into reduced labor demand, and a % is going to families well above the poverty line (second or third household earners).
Only if you assume a perfectly efficient labor market, which is often far from how things play out in studies regarding the minimum wage.
> This is why you see lots of Western countries not even bother with them.
There are only a handful of western countries without a minimum wage and most of them either have very strong collective bargaining, a strong social safety net with some form of guaranteed minimum income, or both. I think those are reasonable policies but they aren't what opponents of the minimum wage are generally advocating for.
https://www.pewresearch.org/short-reads/2021/04/22/most-amer...