Wages can certainly track lower than marginal productivity. That's the expectation under monopsonistic labour markets (few or one buyers of labour, many substit

Wages can certainly track lower than marginal productivity. That's the expectation under monopsonistic labour markets (few or one buyers of labour, many substitutable potential employees). The observed employment effects in response to the minimum wage increase here is pretty well standard theory. https://en.wikipedia.org/wiki/Monopsony#Static_monopsony_in_a_labor_market https://en.wikipedia.org/wiki/Monopsony#Static_monopsony_in_...