Econometer: $15/hour for fast food jobs?
Roger Showley, U-T SAN DIEGO
Sunday, September 8, 2013
Kelly Cunningham, National University System
NO: Attempting to micromanage the economy by increasing minimum wages, living-wage ordinances, and mandating employee benefits such as health insurance (see Obamacare) serves to kill jobs and harm those intending to help. The wages workers receive more or less equals their production value. As automation becomes ever more pervasive, minimum-wage jobs are most endangered. McDonald’s is already implementing touch-screen kiosks to handle cashiering duties. The best way to increase wages, including those at the bottom of the ladder, is through economic prosperity by reducing taxes and regulations encouraging people to invest and expand their businesses thereby creating more jobs.