A successful economy works best with the least amount of government influence, either direction, for the same reason theocracy is a failure. Once you have finished reciting your propaganda lines, please, continue reading.
We see the reason clearly when minimum wage is increased in the USA, though not in other countries. The reason for this discrepancy will become clear very soon.
Consider the copyright system, originally it was made into law because offering the inventors a time to recuperate the costs of development would increase the number of people willing to invest in innovations. Today the copyright laws are outrageous, insanely oppressive because of a few corporations pulling the strings of the politicians.
So in order to sell a version of a product that is made more efficiently and with less costs the copyright holder must be paid whatever they ask, until the day the species becomes extinct. Resulting in absolutely no savings to pass onto the consumer and thus the original producer gets to decide the value of their product no matter how necessary it is for survival.
The end result is that the labor used in the entire process of selling the product to the consumer is added to the total cost, and the only people really earning massive profits are those who hold the copyrights. Walmart is often wrongfully blamed for this discrepancy.
Often people will use the profit value of the corporation, which is a total sum of all their holdings. The outlet stores are only a small portion of their profits, the company owns many other companies which it makes the bulk of it's profits from and no one ever looks at the problems these others are causing.
It's legerdemain, the outlets are given focus by the primary company so that no one realizes just what the company is actually guilty of. Most of the corporations are doing this now, using the minimum wage and their trademarked outlets as smoke screens to cover the real problems.
Should minimum wage be increased? Maybe. We can't know for certain at this time because the costs of everything are hyper inflated by the fact that super wealthy people are being counted as middle class.
Here's the guideline: if you can afford a new phone and computer each year and own a home or a car newer than 2005, you are super wealthy. Most of us are lucky to own a computer that's not more than a decade old or a phone that is now discontinued, and if we're really lucky we have a studio closet … sorry, I meant apartment.
My cat Pepper is the least expensive thing I own, compared to my PS2 that I have had for 7 years even. Ironically, she is more valuable to me than my own life.
So no, do not raise the minimum wage, simplify the fucking laws involved with the relationship of corporation and government so that the corporations cannot get away with atrocities or influence our politicians more than the voters do.