If labor’s bargaining power is indeed sufficient to significantly raise wages, it will be interesting to see if higher wages eliminate large swaths of low margi

If labor’s bargaining power is indeed sufficient to significantly raise wages, it will be interesting to see if higher wages eliminate large swaths of low margin industries, and price surviving businesses in those industries out of reach of most people. For example, restaurants are only accessible to lower-middle class and up patrons because of how underpaid their employees are. Pay them an actual living wage, and restaurant dining will become prohibitively expensive for most people. As a result, there will be far fewer restaurants and therefore far fewer (but much better compensated) restaurant employees.