Evercore's Schlosstein Advocates $15 Minimum Wage

The video discusses the proposal of a $15 minimum wage across the U.S., highlighting the differences in its impact due to regional cost of living variations. It addresses the economic shift over the past decades where returns to capital have outpaced those to labor, especially less skilled labor. The $15 wage is seen as a necessary, albeit blunt, tool to rebalance this disparity. The discussion concludes with the notion that a $15 wage aligns with the poverty line for a family of four, emphasizing the need for fair compensation for full-time work.

What is the main concern of the Walmart CEO regarding a $15 minimum wage?

• It does not account for regional cost of living differences.

• It is too high for all regions.

• It is too low for skilled labor.

• It will lead to inflation.

What economic shift is highlighted in the discussion?

• Increase in skilled labor wages.

• Decrease in capital returns.

• Shift in returns from labor to capital.

• Stability in labor market conditions.

Why is the $15 minimum wage described as a 'blunt instrument'?

• It is a broad approach to address wage imbalance.

• It is a temporary measure.

• It is a tool for skilled labor only.

• It is a precise solution.

What does a $15 minimum wage aim to achieve for a family of four?

• Exceeding the poverty line significantly.

• Reaching the poverty line.

• Below poverty line income.

• Luxury living standards.

According to the discussion, what should be the outcome for someone working 40 hours a week?

• They should be at or above the poverty line.

• They should earn minimum wage regardless of hours.

• They should receive government assistance.

• They should be below the poverty line.