My degree is in Economics, we have a LONG WAY to go before this type of labor pricing makes even an INSIGNIFICANT difference.
Are your really going to not buy the coffee maker if the price goes from $29.99 to $30.99? Of course not!
It’s time to take care of the hourly worker and I’m all for it!
And to the other poster talking about automation . . . the more you automate the less the differential between labor costs of here and the Vietnam’s and China’s of the world matter . . . meaning logistical speed comes to the forefront of manufacturing concerns. Look for a lot more movement of manufacturing here for that reason. And don’t tell me there will be no jobs, anyone who says that has not stepped foot in a manufacturing facility in many years.
“Are your really going to not buy the coffee maker if the price goes from $29.99 to $30.99? Of course not!”
The rest of that argument is are you willing to pay $32.99 if it’s built in Kansas instead of China.
I will