Outsourcing won't wreck Seattle's new minimum wage. But robots might.

Don't worry: There's a better alternative

Yakult factory, California
(Image credit: (LORI SHEPLER/Reuters/Corbis))

Yesterday, Seattle implemented a $15 minimum wage. That policy was a part of the election platform of Kshama Sawant, the only socialist city councilor in America. Her election became a driving force behind the new minimum wage legislation in Seattle, and when the law passed she praised the legislation as a "historic victory" for working people. And it was, in the short term. In the long term, though, it will probably go down as a big victory for robots.

Here are the details of the law: Seattle will phase in the new minimum wage from April 2015 over several years. Larger companies will have to implement the changes earlier than small businesses and nonprofit groups. Big corporations including Subway and McDonald's — which employ about two thirds of Seattle workers presently earning less than $15 an hour — will be required to raise pay in increments over three years. Meanwhile, smaller businesses of up to 500 workers will have seven to 10 years to implement the increases.

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John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.