DBT
Contributor
Until you find that all you have are the robots.
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That's a dumb meme since those are being developed right now when the minimum wage is at $7.25/hr. It's got nothing to do with $15/hr.
But it does raise a good point about what do we do as a society when machines make most of the population superfluous. What do we do? Just tell those shunted aside to "skill up?" What is the free market solution to too few jobs?
$7.25/hr *HERE*. They'll show up first in the places with a higher minimum wage.
Paying minimum wage and mechanization/computerization are driven by the desire to minimize costs and maximize profits. It doesn't matter how low the pay rate, if cost of production can be reduced by mechanization, that's likely to be the option to be taken. That is the trend, regardless of anything else.
The question is: how, as a society, are we going to cope with a large percentage of unemployed workers who have no prospect of finding paid work?