Sometimes predicting the future is difficult (ask anyone who thought we’d have flying cars by now). But sometimes foreseeing what is going to happen — at least to a high degree of probability — is all too easy.
For example, it’s fairly simple to ascertain that sometime in 2017 or 2018 we will see a huge spike in the unemployment for the working poor and increasing the replacement of low-skilled jobs with automation (i.e., robots). The reason: the $15 minimum wage.
Earlier this year the first and fourth most populous states in the U.S. — California and New York — adopted the increase to $15. Numerous cities have also adopted the higher wage floor. But perhaps the most significant step forward for the “Fight for $15” movement is that it is being adopted by the entire Democratic Party.
On Friday, the Democratic National Committee released a draft of the proposed party platform that includes a number of economically destructive proposals, including a federal minimum wage of $15: