Why would it do that? If your wages were higher than competitors, certainly paying higher wages gives you the best of the existing workers. But a minimum wage doesn't give you higher wages than competitors at all.
Also, it seems like a minimum wage actually makes life worse for employers who have use for high value employees. Without a minimum wage I can offer $15/hour and I'll get the high value people. High value labor is therefore sorted into high productivity use.
Once you impose a minimum wage this effect is eliminated.
All the benefits you attribute to a minimum wage could be gained voluntarily by companies even without a minimum wage. In fact the minimum wage interferes with these voluntary efforts. Yet they often don't exploit them. Why don't they?
He just explained that to you. The people who actually work hard and have goals will actually want the minimum wage jobs because now its more manageable to live off of.
A university student who needs to pay rent, groceries, a car, etc. Cant afford to live off minimum wage so they want the better paying jobs which may not exist cause companies want to get away with the most profitable scenario which is paying employees the absolute minimum.
That last statement wasn't needed, no body has time for ad hominems.
...want the better paying jobs which may not exist cause companies want to get away with the most profitable scenario which is paying employees the absolute minimum.
Yet most jobs in the US pay far more than minimum wage. Why would they do this if paying minimum wage is the "most profitable scenario"?
As to why you get a better employee at 15 vs 7/hr, think about an engineer.
At 70k a laid off engineer will sit it out. A so so engineer will take that job instead. Now, raise that 70k to 120k (or whatever rate) and you'll be able to entice the better engineer, while the so so engineer gets left out, perhaps going back to learn more marketable skills.
We can't all hire the best (or better) employees.