When It Comes to Higher Wages, Wall Street Journal Doesn't Believe in Capitalism

That's the implication of this piece warning that a tight labor might force companies to raise wages and this could be hard on many companies' profits. We know that profit shares are near record highs, especially after the Trump tax cut substantially reduced companies' tax liabilities.

This means that the vast majority of companies should be able to easily absorb higher wages without passing the cost on in prices. Undoubtedly some companies are not well-situated because they are less efficien...