A Quote by Henry Hazlitt
Yet it ought to be clear that a minimum wage law is, at best, a limited weapon for combatting the evil of low wages, and that the possible good to be achieved by such a law can exceed the possible harm only in proportion as its aims are mode.
Related Quotes
Reduced employment opportunities is one effect of minimum wage legislation. The minimum wage law has imposed incalculable harm on the disadvantaged members of our society. The only moral thing to do is to repeal it.
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
To the second end, we hold that minimum wage commissions should be established in the Nation and in each State to inquire into wages paid in various industries and to determine the standard which the public ought to sanction as a minimum; and we believe that, as a present installment of what we hope for in the future, there should be at once established in the Nation and its several States minimum standards for the wages of women, taking the present Massachusetts law as a basis from which to start and on which to improve.
The minimum wage law very cleverly is misnamed. The real minimum wage is zero. That is what many inexperienced and low skilled people receive as a result of legislation that makes it illegal to pay them what they are currently worth to an employer.
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.
A minimum-wage law, a law that prevents employers and employees from entering into mutually beneficial economic exchanges, is as far from a free market or free enterprise as one can get. That's why it causes so much damage and destruction, especially to black teenagers and others whose labor, for one reason or another, is valued by employers at less than the government-established minimum wage.
When you say there's too much evil in this world you assume there's good. When you assume there's good, you assume there's such a thing as a moral law on the basis of which to differentiate between good and evil. But if you assume a moral law, you must posit a moral Law Giver, but that's Who you're trying to disprove and not prove. Because if there's no moral Law Giver, there's no moral law. If there's no moral law, there's no good. If there's no good, there's no evil. What is your question?
For those who have only to obey, law is what the sovereign commands. For the sovereign, in the throes of deciding what he ought to command, this view of law is singularly empty of light and leading. In the dispersed sovereignty of modern states, and especially in times of rapid social change, law must look to the future as well as to history and precedent, and to what is possible and right as well as to what is actual.
I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent.
Working-class Americans have waited too long, close to a decade in fact, for an increase in the minimum wage. This has been the second longest period without a pay raise since the Federal minimum wage law was first enacted in 1938.
I used to work at McDonald's making minimum wage. You know what that means when someone pays you minimum wage? You know what your boos was trying to say? "Hey if I could pay you less, I would, but it's against the law."
There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.
Minimum wage law is the 'People's Fed.' Tie minimum wage to money supply. If there is pushback against this idea, then shut down the Fed and its ability to distort the economy, penalizing labor, or make the Fed's distortions available to all businesses and all workers.
I think the minimum wage outght to keep pace with inflation. I think the minimum wage is a good thing to have in our country and I think it ought to be updated.
I'm a common law judge. I believe in deciding every case on its facts, not on a legal philosophy. And I believe in deciding each case in the most limited way possible, because common law judges have a firm belief that the best development of the law is the one that lets society show you the next step, and that next step is in the new facts that each case presents.
The minimum wage now in our country, I think we've set that, so there are a lot of people have benefited from it in our country, but I think we ought to review how much it ought to be, and whether or not we ought to have increases in the minimum wage.
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