The minimum wage goes up today to $7.25 an hour.
Argument in favor: Could you live on fifteen grand per year?
Argument opposed: Increased labor costs mean employers will hire fewer workers.
There doesn’t seem to be a consensus regarding the opposition argument. Could there be a fair study? Employers aware of the argument might vote by using fewer workers.
Something that should humble everybody working or employing or both is that we’d all be sunk if the oil dried up. Few, if any, modern enterprises can say they create wealth, when we depend on the irreplaceable combustibles we find in the ground. There's no room for complacency, especially among those of us to whom much is given.