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

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


  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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