Yeah no thanks, I rather have the government regulate some actual floors rather than hoping that the better angels of American corporations eventually do the right thing.

Also who wrote this theory? Sounds like the wet dream of some neoliberal econ grad.

You're not simply hoping that corporations do the right thing though. Rather, you're making it economically unfeasible for them to pay workers less.

That's good because you don't have to rely on corporations acting morally, and corporations who do act good out of moral obligation aren't punished fiscally for it. It also just works better than adding a price floor, if done right.

And although the idea is sexy, it's far from a wet dream. It's actually the standard in the Scandinvan social democracies.

https://en.wikipedia.org/wiki/Flexicurity