Amit Thokal

How Minimum Wage Impacts the Economy: A Comprehensive Analysis

Minimum wage is a pivotal economic policy tool used by governments worldwide to ensure fair pay for workers. While its primary goal is to provide financial stability to low-income earners, its effects ripple through various aspects of the economy, from employment rates to consumer spending and business operations. This comprehensive analysis explores the multifaceted impact of minimum wage on the economy, shedding light on its benefits and challenges.