…is how the comments section here and here is so full of people who refuse to admit that their successful drive to impose a $15/hr minimum wage on Seattle businesses is going to result in the steady exodus of businesses from Seattle (see also here). This is what happens when you let people who think that ‘capitalism’ is a dirty word run economic policy; it’s like letting a Ptolemic astrologer write your astronomy textbooks, or a phlogiston-believing alchemist plan out your chemistry curriculum. I mean, I’m sure that some of those economic illiterates meant well, but meaning well doesn’t make payroll.
What’s the road situation like for Seattle, anyway? Can people effectively escape to the suburbs for their dinners out (and other retail activities)? – Because that’s probably the best-case scenario for how this situation plays out. Of course, if retail flees to just outside the city limits then poor people take it in the chin; but then, ‘poor people taking it on the chin’ is a natural by-product of pretty much every economic system besides free-market capitalism.
Oh, I certainly hope that saying that ticked off some socialists. A day without ticking off a socialist is like a day without sunshine…