After taking principles of micro and macro economics, both intro-level courses, I got the impression that price controls are generally not a good idea for a market economy. However, I continuously see controversy on social media and the news about raising the minimum wage. It's making me second guess myself. Is there anyone on here that can make a convincing case for or against the minimum wage? I would greatly appreciate it.
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1Hi, welcome to economics.se. Please before posting question try to research the site to see if the question is already answered elsewhere. – 1muflon1 Apr 28 '21 at 07:20
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1Also, be mindful that intro to micro+macro courses do not make one an expert on the real world effects of minimum wage, just like intro to biology does not make one a vet. – Giskard Apr 28 '21 at 09:01
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@Giskard , I don't think my question or description in any way implied I was trying to act like an 'expert'. Your comment is borderline offensive because it makes me seem like I'm trying to be arrogant. How about you read my question and description accurately next time before commenting. Thanks – Anon1313 Apr 28 '21 at 18:33
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You have the right to be offended. You can even flag my comment, and if it is indeed offensive, mods will remove it. My comment was meant to highlight the shortcommings of the theoretical models used in intro classes, and I stand by it. – Giskard Apr 28 '21 at 18:58