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The next round of stimulus will likely contain some sort of minimum wage increase. As long as touch screen and robots are cheaper, its doubtful living wage increases will pave the way towards Yellen's prediction of full employment.
Living wage increases should be celebrated, but there are consequences to it when demand is failing. Kroger is closing stores rather than distributing hero pay mandated by law. I'm sure this makes them evil in the eyes of some, but it's a clear case of unintended consequences of legislation. I’ve seen it for decades. It’s time for the next generation that’s convinced solutions can be legislated without consequences to learn the hard way.
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