Part 1/12:
The Fallacy of Minimum Wage Policies and Their Impact on Jobs and Crime
A Critique of Political Intervention in Labor Markets
In recent discussions, critics have rallied against policies aimed at increasing minimum wages, arguing that such measures often backfire, especially in large, complex economies like California. The narrative suggests that ambitious attempts to eradicate poverty through mandated wage hikes can inadvertently devastate the very class they intend to help—minimum wage workers. For example, California’s policy, which mandated a $20-an-hour minimum wage starting in April 2024, has reportedly led to a cascade of unintended consequences.