The Chicago big box minimum wage

Here we go with another unintended consequence. Chicago is targeting big box retailers with a minimum wage increase. Unlike some of my cohorts on the right, I do not believe the big boxes will start a mass exodus to the suburbs. There is just too much demand in the city of Chicago to leave the city limits. Here's what will happen, though. The cost of living will increase in the city of Chicago as the big box stores raise their prices to compensate for the higher wages. That pay increase that their employees get will be partially washed out by those higher prices, making the increase in their buying power negligible at best.