Barry Ritholtz: Here Comes the Minimum-Wage Increases

Barry Ritholtz writes that Here Comes the Minimum-Wage Increases.

2018 begins with instant raises for the lowest paid rung of the labor pool — those working for minimum wage — in 18 states and almost 22 municipalities, the lowest-paid workers are seeing an pay increase.

Emphasis Mine

The Capitalists see wages as a cost to be reduced — not as a source of funds for purchasing goods. Capitalism requires Capitalists to be myopic — profit is all that matters.

The humanity of the workers is an impediment under Capitalism. To see workers as human beings stops Capitalists making profits. The inhumanity of the system is fundamental to Capitalism.