A few years back, I heard a political debate among the minor candidates for Governor of Georgia (I believe). The Socialist candidate was running on a platform of "If elected, I'd immediately raise the minimum wage to $100" After all, if raising the minimum wage is good, why not go whole hog? Raising the minimum wage to $100 would immediately make us all rich, right? Most people see the consequences at once. Either a) we'd all be immediately unemployed as all our jobs flew oversees or b) inflation would immediately make $100 spend like $10.