It is not the (not actually high) minimum wages. Stores I've known that had problems staying open were having to pay more than the minimum wage because housing is so expensive.
Yeah, the ice cream parlor in my neighborhood in Seattle was at one point advertising $27/hr to scoop ice cream because the housing shortage and worker shortage was so tough. That’s well above minimum.
I posted this yesterday on an unrelated thread but it is again relevant here: every problem in Anglo societies comes back to property and housing prices.
Thanks for the recommendation! I went looking for a Kindle edition, and unsurprisingly for a book from the late 19th century, there are quite a few of varying quality. I downloaded several of the free samples, and this one may be my favorite:
It was edited, abridged, and translated to modern language by Bob Drake of the Henry George School of Chicago.
As always, I recommend downloading the free Kindle sample or reading the free preview on the website before buying.
Here's an example, the first two paragraphs of the Preface in the original language:
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THE views herein set forth were in the main briefly stated in a pamphlet entitled “Our Land and Land Policy,” published in San Francisco in 1871. I then intended, as soon as I could, to present them more fully, but the opportunity did not for a long time occur. In the meanwhile I became even more firmly convinced of their truth, and saw more completely and clearly their relations; and I also saw how many false ideas and erroneous habits of thought stood in the way of their recognition, and how necessary it was to go over the whole ground.
This I have here tried to do, as thoroughly as space would permit. It has been necessary for me to clear away before I could build up, and to write at once for those who have made no previous study of such subjects, and for those who are familiar with economic reasoning; and, so great is the scope of the argument that it has been impossible to treat with the fullness they deserve many of the questions raised. What I have most endeavored to do is to establish general principles, trusting to my readers to carry further their applications where this is needed.
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And in the modern edition:
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In 1871, I first published these ideas in a pamphlet entitled Our Land and Land Policy. Over time, I became even more convinced of their truth. Seeing that many misconceptions blocked their recognition, a fuller explanation seemed necessary. Still, it was impossible to answer all the questions as fully as they deserve. I have tried to establish general principles, trusting readers to extend their application.
While this book may be best appreciated by those familiar with economics, no previous study is needed to understand its argument or to judge its conclusions. I have relied upon facts of common knowledge and common observation, which readers can verify for themselves. They can also decide whether the reasoning is valid.
It is not the (not actually high) minimum wages. Stores I've known that had problems staying open were having to pay more than the minimum wage because housing is so expensive.