I hope this is the appropriate place for this but I am also severely confused about minimum wages. I was under the impression that the large majority of economists agreed that minimum wages are destructive and increase unemployment. It makes sense that the more labor costs, the less would be used. but debating with others I had bee under the impression that the consensus was on my side.It looks to me like it started changing 20 years ago and that there is currently no real consensus on minimum wages, or that the majority may support a minimum wage hike. Is it just keysians having more influence than they should? Cherry picked data? I saw something about 7 nobel winning economists supporting a minimum wage hike. I would say nobel schmobel but then I often refer to hayek and friedman as nobel winners who support my free market position. Pice controls can’t be good, can they? does a majority of economists really support them? What am I missing?
