When it comes to economics, leftists do not have a good track record. One of the more recent arguments for mandatory wage hikes was that it actually benefits the employer, whether it is aggregate employers or individual companies like Walmart. They conveniently ignore that not all of the new wage is recaptured by the company.
The estimation of business competency that minimum wage advocates have of themselves is astronomical. You'd think that paid professionals would discover the aforementioned secret of profits before an undergraduate sociology student would, but it does not dampen their confidence. With the knowledge they possess, I'm surprised more leftists don't just start opening their own wildly successful companies.