$15/hr.? No, you WILL bow to the robots. Artificial lives matter.

Increasing wages will not cause a $1 for $1 rise in prices. An increase in the minimum wage will increase the bottom's earnings proportional to other workers. People who make minimum wage and just above that will benefit. With a minimum wage increase, companies would increase their wages across the board to attract talent.
No, we should incentivize companies to increase their productivity. A good public welfare system helps with that along with an increase in wages. Unemployment would not increase, and we could always expand the welfare system if some workers were put out of work. Do you really expect people to undergo career training to become more productive when they are struggling just to survive?
Higher paid, well motivated employees are more productive. Higher labor costs would also lead to a substitution of capital, especially in low productive industries that pay the minimum wage. We'd be seeing a lot more tablets, and a lot fewer waiters if we raised the minimum wage for waiters.

 

LOL

Now we just need some guy somewhere on the planet to create AI and every movie we have been scared of comes true!!!

Has anyone been to East Africa lately? We need to get all the vibranium first!!!

 

It is pretty frightening. Imagine the military and law enforcement applications. Robocop is real.

 

Never said it would.

Right. All wages will rise. The result? Inflation. You are earning more dollars, but they are worth less.

We already do - it's called profit margin.

You'll have to explain what you mean here, please.

Some workers will lose their jobs altogether, others will have their hours cut. Your results in life are in direct proportion to your effort. So, yes, gain a valuable skill... or just sit around and complain about how unfair everything is. I'd like to play on the PGA tour. But alas, I am not athletically gifted. How unfair.

There is no evidence that raising the minimum wage increases an employee's motivation.

There's the first thing you've said that makes sense - you just made the point that I made in my OP: You will be replaced if you can if you are too expensive.

 

[video=youtube;C4cmDO7HRM4]https://www.youtube.com/watch?v=C4cmDO7HRM4[/video]

 

Mercedes boots robots from production line, replaces them with humans:

http://www.bloomberg.com/news/artic...s-halting-robots-reign-on-the-production-line

Antisocial techno-libertarians have been crying about it, as per usual.

 

Millions of jobs and a ton of small businesses in suburbs and rural areas would be lost.

$15/hr will then be a fortune but it would also be a major blessing if you could find the job.

 

An interesting toy, but why is it bipedal? A quadruped would be much more stable. Maybe useful as a temporary replacement for a human, just so that it can use the same stuff we do.

 

So here we have a case of a business decision made based on the company's assessment of its labor force. Nothing to see here, folks.