> However, wages (like all other prices) in a market are set by supply and demand.

This should be the case, but minimum wage laws completely screw up the market. The unintended consequences of minimum wage result in almost the opposite effect of what they are intended to achieve. They keep wages artificial low, and increases in minimum wage push the costs of all goods and services upwards, as well as cause disemployment.

Wages have been "accidentally" coupled to minimum wage policies which is why there is less correlation with productivity. How this article can be so long and barely mention its effects baffles me.