Doug8888

The spike in income inequality is a fact of life.   And given that the MPC (marginal propensity to consumer - a term anyone that has suffered thru ECON 101 is familiar with) for low income earners is very high, Ric is not incorrect in assuming that a jump in min. wage will increase aggregate demand.  So I do not think the post "naive".

But you too are correct....I now order my morning coffee (at McDonald's) via a computer screen, skipping the minimum wage employee at the counter.   And a spike in minimum wage will only increase this trend.  There will be an impact on "jobs", but we will also see, I suspect, the increased labour costs passed on to prices, especially in the service sector (restaurants, retail etc.).