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A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

Milton Friedman

Is it really true that political self-interest is nobler somehow than economic self-interest?
MILTON FRIEDMAN

Noble Politics Profit True
There’s no such thing as a free lunch.
MILTON FRIEDMAN

Food Freedom
With respect to teachers’ salaries …. Poor teachers are grossly overpaid and good teachers grossly underpaid. Salary schedules tend to be uniform and determined far more by seniority.
MILTON FRIEDMAN

Determination Difference Oppression Poor Respect Teaching
Hell hath no fury like a bureaucrat scorned.
MILTON FRIEDMAN

Hell Right Sarcastic
The problem in this world is to avoid concentration of power – we must have a dispersion of power.
MILTON FRIEDMAN

Avoid Power Problem Rule World
If you pay people not to work and tax them when they do, don’t be surprised if you get unemployment.
MILTON FRIEDMAN

Employment Pay People Yourself
Concentrated power is not rendered harmless by the good intentions of those who create it.
MILTON FRIEDMAN

Creation Harm Intention Liberty Power
The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.
MILTON FRIEDMAN

Hurt Law People Reality Support Tragedy
You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.
MILTON FRIEDMAN

Argument Opponents Right Understand View Yourself
A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.
MILTON FRIEDMAN

Employment Law Limitation Money Person Reality Skill
The word ‘free’ is used three times in the Declaration of Independence and once in the First Amendment to the Constitution, along with ‘freedom.’ The word ‘fair’ is not used in either of our founding documents.
MILTON FRIEDMAN

Difference Freedom Independence Word
One role of prohibition is in making the drug market more lucrative.
MILTON FRIEDMAN

Drug Market Oneself Role
I am a libertarian with a small “l” and a Republican with a capital “R”. And I am a Republican with a capital “R” on grounds of expediency, not on principle.
MILTON FRIEDMAN

Freedom Government Liberty Myself Principle
One of the great mistakes is to judge policies and programs by their intentions rather than their results.
MILTON FRIEDMAN

Greatness Judgement Mistake Oneself Politics Result
Many people want the government to protect the consumer. A much more urgent problem is to protect the consumer from the government.
MILTON FRIEDMAN

Government People Philosophy Problem Protection
If you cannot state a proposition clearly and unambiguously, you do not understand it.
MILTON FRIEDMAN

Law Rule Talk Understand Yourself

A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

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A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.

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