I disagree with this argument. You are posing two extremes: One where everything can be known with certainty, and one where everything is purely based on faith, and dismissing the potential of there being something in the middle.<p>You are right, economics can&#x27;t model every potential variable that influences outcomes. Large scale studies of minimum wage admit that policy and economic differences between local municipalities can cause the effect of a minimum wage change to vary. But you can model for most major differences, such as &quot;Did adjacent municipalities adjust their wages at the same time? Did this have an impact on employment&quot;.<p>Ultimately you can get much closer to an understanding of how minimum wage impacts an economy than you would from a purely faith based approach, and you can land at a recommendation like &quot;In general small increases in the minimum wage do not raise prices or hurt employment, given the following conditions&quot;.<p>That&#x27;s much more valuable than the Austrian position that purely bases itself on faith.