Quote

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.

Thomas Sowell

Change background

T
T
T

Change font

TAGS & TOPICS

Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Worth
Legislation
Misnamed
Results
Minimum
Cleverly
Law
Zero
Inexperienced
Makes
Illegal
Employer
Many
Receive
Skilled
Real
Lows
Currently
People
Result
Employers
Pay
Wage

More quotes by Thomas Sowell

Image
The biggest and most deadly 'tax' rate on the poor comes from a loss of various welfare state benefits - food stamps, housing subsidies and the like - if their income goes up.
Thomas Sowell
Image
Economics is concerned with what emerges, not what anyone intended.
Thomas Sowell
Image
People who have never run even a modest little business assert with great certainty and indignation that heads of multinational corporations are paid much more than they are worth. People who know nothing about medicine and nothing about economics unhesi.
Thomas Sowell
Image
Life in general has never been even close to fair, so the pretense that the government can make it fair is a valuable and inexhaustible asset to politicians who want to expand government.
Thomas Sowell
Image
Stupid people can cause problems, but it usually takes brilliant people to create a real catastrophe.
Thomas Sowell
Image
Social Engineering - The art of replacing what works with what sounds good.
Thomas Sowell
Image
The left takes its vision seriously - more seriously than it takes the rights of other people. They want to be our shepherds. But that requires us to be sheep.
Thomas Sowell
Image
It is hard to read a newspaper or watch a television newscast without encountering someone who has come up with a new 'solution' to society's 'problems.'
Thomas Sowell
Image
Since this is an era when many people are concerned about 'fairness' and 'social justice,' what is your 'fair share' of what someone else has worked for?
Thomas Sowell
Image
The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
Thomas Sowell
Image
Some of the most vocal critics of the way things are being done are people who have done nothing themselves, and whose only contributions to society are their complaints and moral exhibitionism.
Thomas Sowell
Image
The Constitution cannot protect us unless we protect the Constitution.
Thomas Sowell
Image
Competition does a much more effective job than government at protecting consumers.
Thomas Sowell
Image
There are few things more dishonorable than misleading the young.
Thomas Sowell
Image
No society ever thrived because it had a large and growing class of parasites living off those who produce.
Thomas Sowell
Image
It takes considerable knowledge just to realize the extent of your own ignorance.
Thomas Sowell
Image
However widespread the desire to be free, that is wholly different from a desire to live in a society where others are free.
Thomas Sowell
Image
The biggest myth about labor unions is that unions are for the workers. Unions are for unions, just as corporations are for corporations and politicians are for politicians.
Thomas Sowell
Image
Government bailouts are like potato chips: You can't stop with just one.
Thomas Sowell
Image
Our economic problems worry me much less than our political solutions, which have a far worse track record.
Thomas Sowell