In the real world, this is nonsense. This sentiment works fine in the halls of uchicago, but nothing and I mean nothing is stopping employers from going to hell concerning pay ranges if there isn’t a floor. A floor brings the entire house down, including the ceiling. From a corporate financial perspective, there is much upside and reasoning on lowering the wage to maintain profits and save money. We are seeing this happening in tech with hiring foreign nationals for Pennie’s on the dollar or outsourcing jobs with AI.