Sunday, November 9, 2014

Milton Friedman on The Most Anti-Black Law

Milton Friedman was weak on methodology and monetary policy, and he was something of a government technocrat (He crested income tax withholding), but he was very good on the minimum wage.


  1. What a coincidence. I was just watching this video the other day as I'm putting together my thoughts for the youtube video I'm working on. I think Henry Hazlitt did a better job in Economics in One Lesson, but Friedman was not far behind.

    The empirical evidence paints a devastating picture against the minimum wage. BUT, it sounds good and makes the Keynesian spend-thrifts feel good about themselves. And it seems that is what matters most.........

    1. What I don't see covered is that minimum wage laws and payroll and employee liabilities in general hurt everyone and especially demolish the middle class.

  2. and to be fair he suggested it as a wartime measure, nor realizing tax withholding would stick around.