the amount of distortion is debatable and context-sensitive, but that's beside the point, and illustrative of the exact diversion i'm denominating.
the problem is one of wealth and income distribution, particularly what happens as the shape of the distibution skews unnaturally toward the top and the powerful incentives to skew it that way. trying to shore up the tiny low end of that distribution (i.e., via minimum wage) is like throwing pebbles on the beach and hoping to fortify against the ocean. it's useless if the stated purpose of stemming the tide actually coincides with the underlying intent.
(also note that modeling is an assertion of perspective and values, not an empirically objective experimental apparatus in itself. you cannot find truth simply by modeling, as plato's allegory of the cave alludes.)
the problem is one of wealth and income distribution, particularly what happens as the shape of the distibution skews unnaturally toward the top and the powerful incentives to skew it that way. trying to shore up the tiny low end of that distribution (i.e., via minimum wage) is like throwing pebbles on the beach and hoping to fortify against the ocean. it's useless if the stated purpose of stemming the tide actually coincides with the underlying intent.
(also note that modeling is an assertion of perspective and values, not an empirically objective experimental apparatus in itself. you cannot find truth simply by modeling, as plato's allegory of the cave alludes.)