Govt stepping in would probably be worse and simply mask the underlying problems.

Of course there are degrees.

But not all sectors are equal. For example, retail is different than manufacturing. Or agriculture. If wages are artificially raised for agriculture for example, then we just see more imports from South America which effectively screws us all in myriad ways.

With manufacturing it just gives... not just incentive but pretext for more work to move overseas, and helps mask other contributing factors.

Ideally, if you want standard of living increases you need real increases in production and competition. Not GDP per se, because that measures non-productive economic activity but real production of competitive goods/services. This even goes back to why our banking system and the bailouts were such a fail - the Goldman Sachs of the world have no eye or care for local conditions or opportunities.

Govt abetted concentration of capital leads directly to slower re-adjustment of the general economy. When real saving are in local institutions, that have real loanable money then you get the kind of capital investments needed for grassroots competition and a wider variety of emergent business models that find the real wage/value equilibrium much more quickly. Our centralized model that has led to concentration of wealth with the 0.01% also directly leads to ossified Main St economy. The capital flows that should be catalyst for economic self-reorganization arent there as they should be, so the natural re-organization of the economy towards more competitive and higher-producing models also lags behind as well.

Lack of competition lets bad business practices continue, and so on and so forth.

If you mask the problem with a spot-fix like major mandatory wage increases without an understanding and addressing of the underlying fundamentals you are just making the problem worse and kicking the can down the road.

I think everyone should have the opportunity to make a livable wage. However, for overall standard of living to increase - and not be dependent as well on continued foreign subsidization, we need long term fundamental fixes not feel-good spot fixes that may in some sectors do more harm than good, and further distort the true value of labor.

For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)