Evercore's Schlosstein Advocates $15 Minimum Wage

The video discusses the proposal of a $15 minimum wage across the U.S., highlighting the differences in its impact due to regional cost of living variations. It addresses the economic shift over the past decades where returns to capital have outpaced those to labor, especially less skilled labor. The $15 wage is seen as a necessary, albeit blunt, tool to rebalance this disparity. The discussion concludes with the notion that a $15 wage aligns with the poverty line for a family of four, emphasizing the need for fair compensation for full-time work.

In what ways has the balance of returns between capital and labor shifted over the last 20-30 years?

Why does the speaker believe that anyone working 40 hours a week should be able to earn at least the poverty line?