Of course it’s a good thing to see employees paid a decent living wage, but unless the many other factors that have made this trickle-down economy and corporate capitalist system so pervasive are addressed I’m afraid a simple wage increase alone is not going to change anything that much. As long as CEOs and board members and white collar executives continue to funnel so much of the profits to themselves, they will simply pass the costs of the wage increases on to the consumer so that they can maintain their customary level of profits. This corporate capitalist system demands ever increasing profits, That is the nature of the beast.
Back in the 50s and 60s taxes on the wealthy were much higher, there were strong unions intact, and CEOs were used to making only 30 times what the average worker made, not 300 times. And there was more of a definite connection between productivity (with so many goods made here at home) and wages. Today we live in a service sector economy, not a “made-in-America” economy. And then, there is the fact that we spend so much of our GDP on war and the military. And only three candidates (Sanders, Gabbard, and Marianne Williamson) are even addressing the runaway spending of our military budget.
Unless and until we commit to a multi-pronged attack on this corrupt, rigged economy and political system built on war and privilege, these piecemeal changes are going to end up failing and backfiring, only strengthening the argument for the alt-right that progressive policies do not work. It is time for a New Deal and a second Bill of Rights for the 21st century. And it won’t happen with baby steps.