Milton Friedman Explains the Minimum Wage

I thought this was a pretty good video explaining exactly how the minimum wage ruins everything:

The market is a wild animal. If you try to restrain it, you get bit.

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6 Comments

  1. I liked the part about the dual interests: “do-gooders” and “special interests.”

    They used to be called “bleeding hearts” and “greedy bastards.”

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  2. So why do they keep passing these stupid laws? He tells us right at the end, when he makes it clear that the “real purpose” – and indisputable effect – of the minimum wage laws is to help the trade unions keep wages artificially high for their privileged members. Trade unions and Democrats – the Unholy Alliance.

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