Striking McDonald's restaurant employees lock arms in an intersection before being arrested, after walking off the job to demand to demand a $15 per hour wage and union rights during nationwide 'Fight for $15 Day of Disruption' protests in Los Angeles, Calif, on Nov. 29, 2016. But only increased productivity can boost wages, not an edict by the government. David McNew/Getty Images
Contrary to the common narrative, even profit-seeking capitalists are concerned with the poor and how to improve their standard of living.
So what methods lead to increased compensation for the unskilled? The key to (permanently) boosting salaries for those at the bottom of the income distribution is to improve their productivity levels, for these, alone, determine remuneration.
Walter Block
Author
Walter E. Block is Harold E. Wirth Endowed Chair and Professor of Economics, College of Business, at Loyola University New Orleans.
