Alternative non-communist view : You change minimum wage. There's a 3-10y. period for prices signals, supply chains, and the structure of various credit marke

Alternative non-communist view : You change minimum wage. There's a 3-10y. period for prices signals, supply chains, and the structure of various credit markets to adjust across the economy. You begin to notice, as time goes, that nobody is living in abject poverty on sub-13$ wages anymore (7$ an hour cashiers/waiters, for example). Most of the former poor and working poor have become consumers. They are much less subject to all of the worse ills of society (sickness, crime, broken families), which are an aggregate pure loss for society. There is less need for taxes to go to the social security net. But best of all, aggregate economic activity, wealth and well-being have increased. You now live in a slightly better society. You're still a free capitalist society. You didn't even have to expropriate anybody of things earned in the past. The difference, is that this society, at one point in time, agreed to divert some future profits for a time to level the playing field. Note: of course all of this doesn't work without changing the structure of current monetary policies in parallel.