Report comment

No, because you don't create value out of thin air by doubling the wage. That is the same as trying to print your way out of a hole. If you were a small business man pulling in $300k per year in revenue with 4 employees, and your labor costs were doubled, your revenue does not increase with the labor costs. So, you respond by firing half of your staff. More money is not pumped into a system by forcing people to pay more.

Only productivity brings non-contingent wealth into the economy - PERIOD!