American Elephants

Here’s Milton Friedman On The Minimum Wage by The Elephant's Child

The myths of the minimum wage persist because they sound good — not because they do good, they don’t. Ideally, there would be no minimum wage, and if you wanted to hire your neighbor’s 12 year-old kid to rake the leaves, and he wanted to do it for whatever pay you agreed upon, you would not be subject to government control. The minimum wage hurts the very people it was presumed to help.

4 Comments so far
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Sadly, the people proposing a hike in the minimum wage are not economists, don’t know the first thing about economics or the law of supply and demand and are absolutely not interested in the well being of the people who are now working for minimum wage. As always, they are politicians who are looking for a way to get someone else to pay for something that will buy them votes from low info voters.

That’s all these parasites live for.


Comment by Jim Yardley

Succinctly and correctly stated, Jim. I can’t imagine we’re going to get economics taught in the schools.


Comment by The Elephant's Child

I recently wrote an article about how an increase in the minimum wage rate increases unemployment. You can read it here:


Comment by Robert Boxer

Good article, Robert. I’m afraid we’re mostly preaching to those who agree with us anyway, and those who don’t grasp economics think we’re mean — like most of the media. But keep on trying!


Comment by The Elephant's Child

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