Minimum Wage, Maximum Automation — Fast Food Robots at a Franchise Near You. Adam Smith and Stewart Dompe:
If you are getting paid in excess of the value you create, you are either (a) a bureaucrat or (b) soon to find yourself replaced by a machine. This simple logic underscores the futility of all the recent attempts to coerce the market into paying labor more than the value it creates.
During the Great Depression in the US, legislation kept the minimum wage higher than the value produced by many workers, which exacerbated unemployment.