Prices need not necessarily increase if the manufacturer/supplier was will to take a cut in profits.
Unfortunately greed has become a way of life thanks to years of exploitation of cheap labour with not admonishment.

i would say that that assumes that governments are trying to do the best for their people, when the broken Central Bank decidedly forces a different perspective; we have financial predators running the world. Not federal, no reserves

Lincoln’s (real) “greenbacks” caused a renaissance, in the middle of a civil war! (that the rothschilds openly threatened him with) that im noticing is a lot harder to even search than it used to be

The businesses that pay a living wage do better, they have employee loyalty, good productivity and do good business. Some employers don't treat their employees well pay them poorly so they get richer. A good example is Cosco they pay substantially more than others have low employee turnover high production and high employee loyalty, yet still make a good profit. Greed is the problem

The one thing that I would add to the debate, is that there are good stats, showing that where governments institute and enforce good minimum wages, those countries always enjoy better than average economic growth. Perhaps because if you give more money to poorer people they are more likely to spend it locally within the country, instead of taking it to tax havens overseas, and by forcing bad ineffective companies, who only get by because they pay minimum amounts, out of the market place, it creates a better larger market for effective efficient companies.