This article from The Atlantic “explains” why Walmart is raising its hourly wage rate from $7 to $9. It includes this wonderful gem:
This isn’t an isolated act of corporate social responsibility—it’s a response to the current realities of labor economics that will likely inform the behavior of other American employers.
In the late 1990’s and early 2000’s I remember there was such a shortage of unskilled labor that a McDonalds down the street was offering $10 an hour. The reason was because the economy was growing and demand for that labor was high. Now, it’s back down to minimum wage because with so many people wanting a job, McDonalds can easily pick and choose who to hire.
So if the economy is getting better and Walmart is raising wages, the reason for this is because “selfish”? Seems to me that we would want the economy to get better so that it can support better wages. Call me crazy, but isn’t the purpose of a business to.. um.. make money?