I've been thinking lately about the merits of the idea of repealing minimum wage coupled with a healthy UBI that's linked to the price of basic housing in a given district. Of course, that's not perfect, as no idea is. But clearly, companies (as an aggregate of the entirety of the commercial economy, and especially the largest ones) are not willing to lower their revenue such that minimum wage increases are not necessary.
The idea that costs should be "what the market will bear" is a cancer in economic thinking, as it encourages testing the waters to see how high one can raise their prices, without increasing wages in tandem to ensure there are still the maximum number of potential customers (if you price me out of purchasing your product, I am no longer a potential customer, and the size of non-customers is rising in almost all fields that aren't B2B)
The idea that costs should be "what the market will bear" is a cancer in economic thinking, as it encourages testing the waters to see how high one can raise their prices, without increasing wages in tandem to ensure there are still the maximum number of potential customers (if you price me out of purchasing your product, I am no longer a potential customer, and the size of non-customers is rising in almost all fields that aren't B2B)