Such a patsy question! Austrian economics will trot out its usual nonsense that government intervention in the economy is always bad. They ignore the inconvenient reality that a nation states power projection is generally and demonstrably crucial to its overall prosperity. Point three as probably the most important - most employers within the domestic economy will enjoy a considerable increase in demand as the minimum wage workers tend to spend all or close to all of their income in the domestic economy. Also one point the AI ignored which is that low paid workers often close to or in poverty seldom enjoy much power in negotiation with employers resulting in employers taking full advantage of the power imbalance. Ask yourself how many wealthy nations do not have a minimum wage?