In the realm of economic policy, the minimum wage has become a focal point of debate, with advocates touting benefits such as reduced homelessness and improved health. However, as we delve into the latest studies, a nuanced perspective emerges, revealing hidden charges associated with the seemingly appetizing concept of a “free lunch.” Evolving Economic Thinking: The article opens by tracing the historical evolution of economic thinking on minimum wages. From the initial consensus in the 1970s and 1980s that they destroy jobs, a shift occurred in the 1990s with empirical studies challenging this notion. Today, the landscape is marked by … Continue reading The Minimum Wage Debate: Unveiling the Hidden Costs of a ‘Free Lunch