Why The Minimum Wage Should Be $11 Immediately
It is not demand and supply that has kept wages stagnant. Unless the masses can purchase, you can not produce. A rising tide lifts all boats. Only when you throttle the market can wages stays stagnant. The wages have been kept artificially low.
It's not just economics though. It's also a matter of fairness. Someone working full time should be able to take care of themselves and their families. That should be the benchmark.
Forget minimum wage. We are at the cusp of the era of the Universal Basic Income. Rises in productivity will be so outlandishly dramatic, they are going to be off the radar screen. Old measuring tools will no longer work.
Universal Basic Income is not minimum wage. It is not unemployment benefits. It is a new concept.
I am for growing 10 times more food and let everyone just have it. I am for free internet access for everyone. It would be a money maker for every municipality. It would also be a community building exercise. People who might want free internet access might have to congregate. There is health value to that. NYC is about to make $500 million per year by turning all its phone booths into Gigabit WiFi hotspots.
For health, the US government should buy a copy of my book on behalf of every American. I would be happy to offer a 60% discount.
As for super cheap housing, I am waiting for some advances in nanotechnology.