First, it a sign of economic ignorance that is mind boggling.
What's a living wage, where and for who? Wanting something is not the same being able to make it so. Obama and friends. There are consequences of forcing artificial wages on the market: inflation, loss of jobs, market distortions, etc. It will not make The rules of economics change.
Second, this term will be used as a stick to beat reality based economists and politicians about the head and shoulders.
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