KT

If you can't even define "the market," how can we measure an impact on it? The definition is actually really important. Because one thing is for certain: WalMart has benefited people who have owned its stock from the beginning.

I think your argument may be something along these lines: Some large companies like WalMart benefit shareholders more than they benefit employees by being low cost providers (and therefore striving to keep costs, like employee salaries, down). This is not necessarily good.

If that is your argument, you are essentially attacking the entire low cost provider industry. Everything from McDonald's to WalMart to CVS and beyond. Because these large chains employ so many people, they have to keep salaries/wages down in order to fulfill their mission. Raising the minimum wage will then raise the cost of goods that are carried at these chains (and grocery stores), since the costs will certainly be passed along.

That's where the inflation argument comes in--I'm not saying that economy-wide inflation will occur, but low cost items will certainly increase in price (that's why I restricted my comment to "goods these people will buy, like bread").

Anyone could have asked that question without the study, you did before you even brought up the study. I still don't know what a Swaminathin (sp?) is.

And in your recent post you discuss "the local economy;" why do local effects take precedence over overall effects? That proposition is also at odds with your earlier concern ("overall health").

I agree that it would be nice if we could have companies that generate no ill effects at all and make everyone happier and wealthier. I'm sure most companies would if it were as simple as checking a box. But business isn't that simple. I would like to do something for the poor as well. But, like Rob said, I think the major causes of poverty are behavioral/mental illness/medical disability, and these problems don't go away just by throwing money at them.

A lot of people who start out at minimum wage are able to climb the ranks if they try, and become middle class--despite having no education. Remember Justin? He was minimum wage, and he is now a manager or buyer or something pretty high up at Poppa John's.