Background Image
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. but the people who are hurt most by higher minimums are the most poverty stricken.
-Milton Friedman
Please Wait....
Translating....

The Real Tragedy Of Minimum Wage Laws

Milton Friedman
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. but the people who are hurt most by higher minimums are the most poverty stricken.
Views: 4
Cite this Page
Prevent plagiarism by providing proper attribution.
APA FORMAT
Embed this Quote
Copy this HTML code to embed the quote on your website or blog.
HTML CODE
Topic
Hurt Real Law

More From Milton Friedman

[a] family with two kids that earns the minimum wage still lives below the poverty line. that's wrong. that's why, since the last time this congress raised the minimum wage, 19 states have chosen to bump theirs even higher. tonight, let's declare that in the wealthiest nation on earth, no one who works full-time should have to live in poverty, and raise the federal minimum wage to $9 an hour.
Kids Two Should Have
He was a first-time nonviolent possible offender, ... and under the mandatory minimums, he was put in prison for 15 years. not only does the punishment not fit the crime, but the mandatory minimums don't give judges any discretion to look at the background of the case, to read into the specifics of the case. i don't know a judge who really is in favor of the mandatory minimums.
Years Punishment Giving
Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.
Law Doe Unemployment
I want people to make a lot more than $9. $9 is not enough. the problem is that if you can't do that by mandating it in the minimum wage laws. minimum wage laws never worked in terms of helping the middle class attain more prosperity.
Law Class People
The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. yet it is largely a result of minimum wage laws. we regard the minimum wage law as one of the most, if not the most, anti-black laws on the statute books.
Teenager Book Social Unrest
A general flat minimum-wage law for all industry is permissible, but i do not think that it is a particularly wise method of achieving the end. i know much better methods of providing a minimum for everybody. but once you turn from laying down a general minimum for all industry to decreeing particular and different minimum for different industries, then, of course, you make the price mechanism inoperative, because it is no longer the price mechanism which will guide people between industries and trades.
Wise Thinking Law
Similar Quotes
The wise use of your freedom to make your own decisions is crucial to your spiritual growth, now and for eternity. you are never too young to learn, never too old to change. your yearnings to learn and change come from a divinely instilled striving for eternal progression. each day brings opportunity for decisions for eternity.
Wise Spiritual Opportunity
There is a limit to the work that can be got out of a human body or a human brain, and he is a wise man who wastes no energy on pursuits for which he is not fitted; and he is still wiser who, from among the things that he can do well, chooses and resolut
Wise Men Brain
He could remember all about it now; the pitiful figure he must have cut; the absurd way in which he had gone and done the very thing he had so often agreed with himself in thinking would be the most foolish thing in the world; and had met with exactly the consequences which, in these wise moods, he had always foretold were certain to follow, if he ever did make such a fool of himself.
Wise Memorable Unrequited Love
A wise government seeks to provide the opportunity through which the best of individual achievement can be obtained, while at the same time it seeks to remove such obstruction, such unfairness as springs from selfish human motives.
Wise Spring Selfish

Trending Author

Thomas Hood
Thomas Hood
Ron Chernow
Ron Chernow
Louie Anderson
Louie Anderson
Margot Kidder
Margot Kidder
Dan Benishek
Dan Benishek
Anatoly Karpov
Anatoly Karpov
Category
Information
Inspirational
Philosophy
Personal Growth
Happiness & Joy
Life Lessons
Success & Business
Motivation