Setting a minimum wage is simply government price fixing.
Los Angeles has a "living wage" and the implications have been studied.
Key Findings PDF
Some items of note: 10,000 workers now are paid over $10/hr and only 112 lost their job. The industries impacted are immobile, meaning they are service oriented and so cannot move elsewhere. Businesses have adapted by cutting overtime and fringer benefits. More than 40% of workers still rely on government assistance of some sort.
The results indicate that a raise in the minimum wage is helping many people but as a policy should this really be the role of government?
Further questions for "living wage" proponents:
If $10/hr is good wouldn't a $25/hr minimum wage be better?
Should a maximum wage set?
Should government set the price of other services and goods? For example, should the government set a minimumm price of $20/lb for organic, fair-trade, shade-grown, coffee so the coffee farmers can have a living wage?
