All of which makes $15 an hour sound too high. Hardly. Over the last half-century, American workers have achieved productivity gains that can easily support a $15-an-hour minimum wage. In fact, if the minimum wage had kept pace over time with the average growth in productivity, it would be about $17 an hour. The problem is that the benefits of that growth have flowed increasingly to profits, shareholders and executives, not workers. The result has been bigger returns to capital, higher executive pay — and widening income inequality.
â€• Today’s NYTimes editorial, Redefining the Minimum Wage (via femocracy)