This is what I am talking about. This is the mindeset of an anti worker, anti capitalist and anti free marketeer. A capitalist and true free marketeer says labor is subject to the laws of supply and demand. YOU, the user of labor, have NO control over the supply or the demand of the any comodity ESPECIALLY LABOR. Get it?????
The govt setting a floor on wages affects everyone using labor the same. Deal with it. The govt ( politics ) plays a huge part in economics. That is an unchangable fact. Sorry the academic world of pure economics only exists in text books.
Oh, but the user of the commodity labor does have control over the cost of labor. They set a wage commensurate with what the job is worth to them in order to sell a product at a marketable rate. That’s the point, a marketable rate for a product. if you want to spend 20 bucks for a big mac, go for it. A lot of people won’t go there when there are other viable alternatives, some much better quality for roughly half the price. To whit, I’ve seen exactly this at more than one sit down restaurant with wait staff and actual service (less than McDonald’s for a similar meal option, but much better product).
If they can’t hire anyone because of the wage, then the job falls on others to do within their capability to manage it. Either way less people buy the product, or there are less customers able to get a product because demand is higher than output capability, but at least the business owner isn’t getting shafted to make much less money due to labor related costs (many of which besides simple hourly pay are driven up by a higher wage as well).
Now the competition for employees is heightened by forcing higher wages for similar jobs in some portions of the same sector, so certain business owners are at a disadvantage. Essentially this is crony capitalism, but in a roundabout way (or it has a similar impact).
OMG, you’d flunk Econ 101