"Artificially raising wages"? Lordy.
Everyone can't be a doctor, lawyer, etc. Someone has to work retail, service and hospitality jobs. You think that's what teens are for? Say goodbye to fast food for breakfast and lunch during the school year. Retail stores? Open Monday through Friday roughly 4 to 9 PM, with longer weekend hours. Hospitality? No night auditors. No night housekeeping. No morning housekeeping, either. Welcome to 9 PM check ins. Oh, and grocery stores. Meh. Again, Monday through Friday about 4 to 9. Maybe 10 depending on labor laws.