Why $15 is the basic question, why not $100, why not more?
UC Berkeley Touts $15 Minimum Wage Law, Then Fires Hundreds Of Workers After It Passes
Labor Markets: Hundreds of employees at the University of California at Berkeley are getting schooled in basic economics, as the $15 minimum wage just cost them their jobs. Too bad liberal elites “fighting for $15” don’t get it.
...But why is anyone surprised about jobs cuts following a wage hike? It’s one of the most basic laws of economics. Any high school kid taking Econ 101 can explain it: If you raise the price of something, demand goes down.
...What’s surprising, then, is that unions, liberals and others pushing the minimum wage hike have managed to convince the public that this law somehow doesn’t apply to the labor market, and so succeeded in getting $15 laws in California, New York and Seattle. You can bet that either Bernie Sanders or Hillary Clinton will push $15 at the national level if either is elected.
Berkeley employees whose jobs are on the chopping block might want to educate these leaders about the perils of this idea.