On my university campus, I have seen young socialist clubs advocating for a minimum wage increase, or what they call a “living wage” increase.
But should we even have a minimum wage at all?
Firstly, it’s immoral for government to force someone to make any transaction against their will. If companies want to pay their employees $11 an hour, or $10 an hour, that’s their choice to make.
What is the point of having a "living wage" when it makes employers cut back on workers' hours, hire fewer employees, raise prices, and even shut down completely if they are too small to compete?
It’s kind of ironic that young socialists are unknowingly supporting big business with these policies...