Higher minimum wage is (in fact) a capitalist instrument

Saturday, February 28, 2015

A capitalist instrument for preventing revolution -- that is. Nick Hanauer argued that inequality is rising and this will inevitably lead to a revolution. How can we reduce inequality and prevent such revolution that will topple the bourgeois? Well, according to Nick, we should increase the minimum wage.

Well he's right. Capitalism needs consumer. Rising inequality will destroy consumer society. So, in order to save liberal capitalist democracies from impending doom, let's raise the minimum wage!(?)