$15/hr for fast food workers by 2018

[SeventhSandwich]

this was ford's (i think) strategy when he started his company - pay his employees almost triple normal wage, and get the best of the best. productivity and innovation skyrocketed.

Ford also owned an incredibly lucrative business. Raising the minimum wage punishes small businesses that do not have the financial wherewithal to double/triple their payroll expenses.

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[Headcrab Zombie]

Ford also owned an incredibly lucrative business. Raising the minimum wage punishes small businesses that do not have the financial wherewithal to double/triple their payroll expenses.

Not to mention that "hire the best of the best" means that only "the best of the best" would have jobs...
Which would hurt them again, when no one had money to buy their products

[SeventhSandwich]

Not to mention that "hire the best of the best" means that only "the best of the best" would have jobs...
Which would hurt them again, when no one had money to buy their products

He didn't necessarily raise wages to increase the quality of his workforce either. It was mainly so that his employees could afford his cars, which widened the market for cars and got Ford a reasonable percentage of his money back.

[AutoBahn]

Yeah but I'm assuming they're leaving so they can work somewhere else that pays more
So if everywhere pays the same, that factor is kinda eliminated...

That's a good point too. I suppose minimum wage is more of an economy level thing than individual, since it applies to anyone living in (certain parts of) the US, which means there's better pay here compared to wherever else, which is more of an immigration factor than anything else.