https://www.businessinsider.com/california-fast-food-20-minimum-wage-restaurant-raise-pay-compete-2024-4

  • SuperZutsuki [they/them]
    ·
    7 months ago

    They're talking about the decoupling of productivity and wages in the late 70s. If wages had increased in line with productivity increases minimum wage would be like $28-30/hr. The highest minimum wage (adjusted for inflation) was in 1968 and would be about $15/hr today. The real theft is that we produce so much more surplus value than 40 years ago and receive none of it in compensation.