Obama wage-hour chief David Weil told the Wall Street Journal that leaders of the National Retail Federation approached him urging a hike in the federal minimum wage. Apparently readers are meant to infer that this policy is so obviously fair, or overdue, or beneficial to the national economy, that even big business leaders who will be paying the higher wages favor it. The anecdote is not even the tiniest bit paradoxical, however, once you realize that major national retail operators already tend to pay over the minimum and wouldn’t mind kneecapping their smaller, less-established, or lower-margin competitors who don’t [WSJ and blog, Donald Boudreaux, Tim Worstall]
Meanwhile: “More Seattle restaurants close doors as $15 minimum wage approaches” If only anyone could have predicted! [Shift WA via J.A. Cohen] But note this Seattle Times piece in which the owners of the four closing restaurants say the wage hike wasn’t the reason.