The economics of fast food are kind of mind blowing, and IMHO can't work in any way, no matter where the minimum wage is set. The problem is that (and I'm sure I'm preaching to the choir here, so forgive me) there are so many externalities built into a goddam Big Mac, the the true price probably is the same price as that place in Pico. My primary research field is in stroke recovery. Stroke is a $75 billion industry, and cardiovascular disease in general dwarfs that (obesity and diabetes will be a $1 Trillion industry in the next decade or two; seriously a Trillion fucking dollars that people have inflicted on themselves). Fast food isn't the only problem there, but it's sure a big one. Keeps my paychecks hot, but I would still rather live in a world where I didn't have to do the work I do (but don't get me wrong, I love what I do). Between the environmental cost and the health cost, there's a good case to be made for a several hundred percent excise tax on fast food and soda. I know it won't ever happen (the sugar industry spends a silly amount of money given their relatively small size, and (yippie!) they have both Dems and the GOP in their corner), but I guess it's still a good thought exercise to imagine how the world should look.Really, for the economics of fast food to work out for fast food workers, fast food has to become slow food. I'm all for it, but I don't see it happening without a massive cultural revolution.
The whole food system is pretty horrifically gerrymandered. Start with the fact that according to the USDA, if it's not corn, potatoes, wheat or soy, it's a "specialty crop." Carrots? Specialty crop. Spinach? Specialty crop. Apples? Specialty crop. Not "food." That's not even getting into beef subsidies, wheat subsidies, etc. If you haven't read The End Of Food you should.The problem is that (and I'm sure I'm preaching to the choir here, so forgive me) there are so many externalities built into a goddam Big Mac, the the true price probably is the same price as that place in Pico.