I'd also like to add that, in fact, a GMI doesn't mean all wages increase. Some companies would need to pay more to retain employees. However, some companies would be able to pay their workers less. Studies into efficiency wages have shown money and other extrinsic motivators are only effective up to the point where the person feels financially secure. Additional extrinsic motivation does not seem to improve productivity, but intrinsic motivation - the feeling that your work is meaningful, personally significant, improves your status, etc. - does improve productivity. Companies that extrinsically motivate their employees won't need to pay them as much, because they are financially secure by other means.
Pointless dead end McJobs, abusive managers, general ****heads though? Hell yeah, they'll need to pay.
This is what a free market actually looks like.
Pointless dead end McJobs, abusive managers, general ****heads though? Hell yeah, they'll need to pay.
This is what a free market actually looks like.