Maybe in the fantasy land of an economics text book. In reality, minimum rate is a maximizing function of availability, capability, conditions and the wage. Peo

Maybe in the fantasy land of an economics text book. In reality, minimum rate is a maximizing function of availability, capability, conditions and the wage. People will usually choose the highest wage job with the best conditions that they can obtain and perform, Dunning-Kruger aside. If the only jobs around pay poverty wages, people will take those. GP is saying that the economy no longer functions when businesses minimize wage. There has to be fat in the wage, or our economy becomes an economy of only basic life sustaining staples.