A New Kind of ‘Bargaining’
“There are many ways to look at the minimum wage increase in Los Angeles from the current $9 an hour [under California law] to $15 by 2020—some hopeful, some cautionary, all good,” the New York Times editorialized last week.
The reader who alerted us to this editorial was incredulous: “ ‘All good’?! There are no downsides to a 67% increase in the minimum wage, according to the Times? Does the Times editorial board really believe this?”
Apparently not. The editorial spends two paragraphs acknowledging that higher wages do impose costs:
