If fast-food workers began earning wages comparable to electricians, I wouldn’t necessarily expect electricians to become poorer. I’d expect employers who depend on skilled labor to increase compensation to remain competitive. The question then becomes whether those higher labor costs come from reduced profits, increased prices, greater productivity, or some combination of all three.
Anyway, it is better for all workers.










Saying “supply and demand” as if that settles the issue is reductive. It tells us prices moved, not why the market is structured this way. The real questions are what’s driving demand, who controls supply, and how concentrated power has become. When three suppliers and a handful of effectively unlimited buyers dominate the entire market, with weak or absent regulatory intervention, Econ 101 stops being analysis and starts becoming a thought-terminating cliché.