A $15 Minimum Wage Is A Booby Prize For American Workers | Newgeography.com
. . . over at newgeography.com
It is a good look at the new minimum wage, and the possible problems, and outcomes. I think he is partially correct about his allegation of a new feudalism. This is not the coming economic model, but the dying current blue economic model.
Socialism is a heresy of feudalism, and progressivism is a softer younger sister of Socialism. It is no surprise as the blue model, Socialism, and progressivism all whither, that the result would be a shift towards more feudalistic models. Those who wish to continue the blue model believe what is necessary is to return to a more pure form to kick the now old dying model. But nothing will keep this horse alive nor will breathe life into the horse once dead.
Kotkin noted that we seem to be in a period of change. I found this point particularly interesting, "In these and other core cities, we are seeing something reminiscent of the Victorian era, where a larger proportion of workers are earning their living serving the wealthy and their needs as nannies, restaurant workers, dog-walkers and the like." But what happened after that period of the Victorian era was the rapid growth of wealth among all Americans. We all prospered. The economic change from 1900 to the present is greater than all the economic change prior to that period.
I fully expect that we are in a flux period much like the flux period at the end of the Victorian era. I expect the wealth we experience in the subsequent decades to be far greater than anything that happened during the 20th century. I expect that the prosperity we will experience during this new period, and economic model will be greater than all the prosperity up to the end of the progressive blue model. I think Kotkin may be a little too dour in his assumptions of the future. Our children will live lives more prosperous, more secure, and more enjoyable than we.