Quote by Thomas Sowell

The real minimum wage is zero unemployment.

The real minimum wage is zero unemployment.

Summary

This quote suggests that the ideal situation regarding minimum wage is to have zero unemployment. In other words, when there are ample job opportunities available for everyone, there would be no need for a mandated minimum wage. The quote implies that having a thriving job market with numerous employment options would naturally result in higher wages due to competition between employers. It implies that reducing unemployment should be the ultimate goal rather than solely relying on mandated minimum wage increases to address income disparities.

Topics

Work

By Thomas Sowell

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