I appreciate Mr. De Bree’s analysis of the minimum wage issue (“Finding the best minimum wage price,” column published Aug. 19). He takes it from the top end, as do most of our ivory tower university academics.
Capitalist economies begin with the need to make a profit in order to entice industry to make things that people need and want (also, what government wants for the military, etc.)
As I read Webster’s definition of “economics,” I see it is the study of production, distribution, and consumption of wealth (and the related areas of labor, finance, taxation, etc.)
Why not begin at the consumption level? What do people need to live decently in this society and build the structure from there? If $15 is the minimum with which your figures arrive and most everyone agrees is OK, then whatever is required to make that happen must be a given if we are to have a functioning economy and peaceful society.
As long as profit is the starting point, rather than people’s needs, the economy cannot prosper, in my opinion.