You do know, don't you, that only by keeping the MW low enough that it's sustainable, right? Keep raising it slowly and by small increments and there's no immediate negative effects. Over time, however, they accumulate and are felt. Ever wonder why you don't have a teenager run out to pump your gas, check your tires, water and oil any more?
Here's a clue. Notice that the MW continually increases, because inflation always eats it.
I'm thinking that the reason you don't have "teenagers running out to pump gas" is that
a) more teens are staying in school later
Baloney. Ever hear of weekends and summer?
b) they would do so as a complement to their principal function - as apprentice mechanics in the attached garage...
Nope, they would do it to earn some money, get valuable generic work skills and work history.
but few gas stations continue to operate full service garages.....kids who want to go into that business need more formal training and certification, and when done, go to dealers, where the money is much better.
So, IOW, you're saying that the cost of hiring said teenagers is HIGHER than the cost of putting in self serve pumps and making drivers responsible for their own water, tires, and oil. That's the point, and the MW is part of that higher cost.
Baloney. Ever hear of weekends and summer?
Silly me......I forgot that demand for auto repairs was seasonal.....
But to demonstrate that it is "baloney", wouldn't it be helpful if you posted some evidence of the unchanging HS drop out rates and college entrance figures?
you know, like
HOLY CRAP! It has fallen by 66% in less than 20 years.
What about the percentage of HS kids going on to college?
Apparently the romance has gone out of spending a lifetime washing car windows....