A small business owner’s argument in favor of raising the minimum wage

Worth reading, in Slate. An excerpt:

A higher minimum wage helps reduce the structural advantages large corporations have over small businesses, and that in turn helps create a context where high-quality independent businesses can thrive by overdelivering compared to our better-capitalized, but mediocre, big competitors. . . . If the minimum wage were raised high enough, the cost of human resources would have to be borne in full by their employers, large and small. In turn, everyone will have to raise prices—and the prices the big guys charge for their products will be closer to their true costs.

See the whole article here.