Just more evidence that politicians know less than basic economics.
Artificially increasing the minimum wage causes prices of products to go up and the unemployment rating to go up, because almost all stores that require the low-wage jobs have to increase prices and fire workers for profits. Shocker, right? Well countless economists, commentators, members of the general public and even some politicians have seen this from a mile away.
Many democrats, like Bernie Sanders and Alexandria Ocasio-Cortez, have supported increasing the minimum wage to $15 per hour, but that kind of thinking is put it simply, and intellectual shortcut, finding the easiest solution without looking at the flaws. That's exactly what happened here, and this intellectual shortcut, made by self-described "Democratic socialists", probably will cost many jobs, as well as speeding up the automation apocalypse.
https://www.zerohedge.com/news/2019-04-09/wal-mart-rolling-out-robots-after-raising-minimum-wage
Automation of many jobs is inevitable anyway. Human workforce will struggle to compete in both efficiency and price as technology improves.
Government will most likely still resist automation to employ more people but we don't jobs to be overly dependent on Government.
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