Reason has a post up about how the $15/hour minimum wage in New York City is having an adverse effect on restaurants and restaurant employees who are seeing their hours cut or are being laid off. That’s the Real World result of trying to legislate the economic value of any person’s labor. OTOH, some folks believe a “living” minimum wage is like the rest of socialism; we just haven’t done it right yet.
Anthony Advincula, a spokesman for the ROC [Restaurant Opportunities Center], has argued that such negative effects need not happen in tandem with the city-mandated wage hikes. “Increasing to $15 would reduce income inequality, and the number of individuals living in poverty now is ridiculously high,” he told The Wall Street Journal. “This is not just a business issue, this is a race, gender, pay-equality issue.” But if New York City is any example, the measures pushed by Advincula will only serve to make those issues worse.
Let them eat … um … home cooking.