It’s complicated. In the course of compiling its annual Emerging Trends report, the Urban Land Institute found that the only certainty in its outlook for 2019 was uncertainty. Expert analysis points to a more complex, multi-layered series of overlapping trends, with unpredictable results, as opposed to a few strong narratives.
As anyone who has a smattering of economics education could have told you, when government, rather than the marketplace, determines wages and prices the end result is always economic disaster. Thousands of employees in the fast-food business, and other businesses will be replaced by technology, eliminating those jobs. The government can’t arbitrarily and artificially set wages and not expect that there will be adverse consequences. The increase in the minimum wage which will cost billions of dollars to businesses was the catalyst necessary for businesses to decide to spend money on technology to figure out how to replace expensive employees. The end result of an increase in the minimum wage: fewer jobs. Something that Republicans and economists have been saying all along. Continue reading “WENDY’S GOES TO SELF-SERVE KIOSKS AS WAGE INCREASES KICK IN”→