Minimum wage only means those below that wage become an increased cost to their employer. It doesn't necessarily mean that the highstreet price changes. If the market won't accept a higher price then the employer simple absorbs the cost and lives with a couple less refuelings of their private jet that year. That could potentially hurt the oil companies slightly but they just decide to cut production and charge more. The refuelers get an extra tea-break. If the price does go up then for commodities the gross profit of the owners is likely to increase - who buys less bread because the price went up by 0.0001p to account for minimum wage (rounded up to 1p, guess who gets to bank the rounding error!).
Moving on.
In an anarchic society (no government) "private security firms" do enforce law and order. The problem is that the law is "whoever is strongest (has most weapons, most money to pay their army) wins". That's it. Out of that grows a feudal system.
I'm quite glad that Christianity took hold of those in positions of power and brought us beyond that. But do feel were sliding back in that direction rather.
Hah! I upmodded because you made a thoughtful comment, but all the thoughts are kindof wrong.
As for your first point, employers might cut back on luxury consumption, and therefore totally offset the increase in costs. I'm with you there, but I doubt it is a major effect.
Private security firms do not enforce law and order. "Whoever is strongest" is the exact opposite of law. They enforce order, but only in so far as it makes them more money to do so, or benefits those who set the policy of the firm. When one security firm attacks another, that is not law and order. All this is is the current system, but where you shrink the countries down to the size of counties, and make all the new tiny countries dictatorships. In other words, this is Europe circa 900AD.
Have you heard of the crusades, inquisition, witch trials? It was taking away civil authority that finally prevented pious monsters from violently enforcing their whims. You could give months of fulltime proof that what you said is nonsense. In fact, they do it all the time, it's called European History.
Moving on.
In an anarchic society (no government) "private security firms" do enforce law and order. The problem is that the law is "whoever is strongest (has most weapons, most money to pay their army) wins". That's it. Out of that grows a feudal system.
I'm quite glad that Christianity took hold of those in positions of power and brought us beyond that. But do feel were sliding back in that direction rather.