The article devotes significant time toe discussing the effect of minimum wage policy under point 8. He makes a convincing argument that it doesn't explain much of the effect.
It also affects inflation, which the author posits as the leading cause of stagnation (misprediction of inflation). Minimum wage causes inflation, and the effects of it are unpredictable, because you don't know who is going to raise their prices to make up the additional employment costs, or who is going to lose their jobs because smaller businesses downsize because they can't afford the increased minimum wage costs.