I think all these liberal economic problems will go away after the GOP extinguishes its evangelical base. The "welfare queen" was something designed to help create an evangelical base, but that is now backfiring since it frames the argument in a way that makes it super easy for liberals to point at the real welfare queens: multinational corporations. Which is absolutely true within that dichotomy, but the dichotomy is false. Pre-Reagan-Revolution conservatives believed welfare was a good thing, and this allowed their economic policies to dominate because they weren't based on lies. Americans are naturally capitalistic, but when the "pro-capitalism party" essentially disregards the means in pursuit of an end, liberal economics, even when wrong, will win.

Unfortunately, it will be a long time before the GOP can rid itself of its evangelical base. But between now and then, the Democrats can definitely be molded into the pro-capitalism party by endorsing guys like Brian Schweitzer. I'd say the Democrats already are pro-capitalism in a lot of ways, many of which they do better than the GOP, but they're not without problems of bad economics or regulatory capture.

Ultimately, I do not think a rising minimum wage policy will matter much. In a shrinking economy, it's terrible policy, but in a growing one, its effects are marginal or non-existent. We're entering an age of monetary policy that will keep the economy growing similar to Australia, so I don't think minimum wage policies or sentiments will have much effect over the long run

Also Peter Schiff is right about regulation stuff, but wrong about money stuff. Very wrong about money stuff, and that sucks because money stuff is what he talks about the most