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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

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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

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Despite a voluminous and often fervent literature on income distribution, the cold fact is that most income is not distributed: It is earned.
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Anyone who does not understand the utter cynicism of politics does not understand politics.
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