There is no alternative to letting the market set prices. Mandatory price floors on labor create unemployment where there would otherwise be none, while creatin

There is no alternative to letting the market set prices. Mandatory price floors on labor create unemployment where there would otherwise be none, while creating economic deadweight that reduces per capita productivity and with it per capita income. The only way to increases wages on an economy wide basis is to institute policies to increase per capita productivity, and that can only be done by restricting growth in the size of the population or accelerating growth in total productivity.