Please do correct me if I am wrong. But isn't the whole reason lower class job salaries increased in the USA was simply because they had just won a world war? I do not know enough about the reasons for affluence in the 50s, but surely it was in large part to success in the war? If so, how could one suggest the minimum wage is just raised without it causing mass unemployment in the present? I must be misunderstanding…
Well, a lot of historians say that the USA's economy flourished post-war not necessarily because they "won" it (hard to define concept these days), but because everybody else's manufacturing infrastructure was completely flattened. Why do you think the USA automobile market exploded post-war? It's because the two biggest automobile manufactures - Germany and Japan - were flattened to smouldering ashes and took around…
http://www.jato.com/wp-content/uploads/2016/06/JATO-Global-C...
GM VAG and Toyota all have similar shares of the global market. Depending on how you want to nitpick you can make The Americans, Germans or Japanese look like the dominant player in global vehicle sales but it's really too global of an industry to draw the lines based on the country the CEO's office happens to be in.