No amount of good intentions can invalidate basic economics. The two-thirds of Americans who support a minimum wage hike to $15 per hour now have an ally in the White House. And, President Joe Biden is already acting on his support by trying to include a $15 per hour minimum wage in his COVID-19 relief plan. This action would mark the first federal minimum wage increase since 2009. While this is bound to be celebrated without a second guess by many, it is now more important t

Justin Sullivan/Getty Images On Monday, Amazon took out a full page newspaper ad reading, “It’s time to raise the federal minimum wage.” It then went on to urge a federal minimum wage hike to $15 per hour, up from $7.25 per hour in the status quo. Why is Amazon — one of the most successful companies on the planet — using their time and money to advocate for a higher minimum wage, of all things? Contrary to some initial reactions, it is not due to their sincere good-heartednes