And a true indicator of what pay a specific job requires for the employees to work it, not some arbitrary number (like $50
) some politician or activist came up with that is then applied across the entire labor market.
Capitalism generally works when it’s left alone.
I can open a business tomorrow and offer $1 an hour but no one’s going to work it, or I can offer $100 an hour and be the most picky employer in the world when it comes to grooming and work standards, or find the sweet spot in between to get exactly the right combination of value and appearance.