Tags » Milton Friedman

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

Milton Friedman


Rhett Butler and the War on Drugs

Prohibiting the consumption of any good is always likely to have undesirable effects. One typically unintended consequence is the tendency for less costly varieties of the good to disappear in favor of expensive variants, which provide rewards to suppliers that better compensate for the legal risks inherent in their trade. 160 more words

“A major source of objection to a free economy is precisely that it…gives people what they want instead of what a particular group thinks they ought to want.

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Liberty Quotes

Ibn Khaldun on Taxes and Society

400 years before Adam Smith and 600 years before Milton Friedman and F.A. Hayek, Ibn Khaldun (1332 – 1406) had some interesting things to say about the appropriate level of taxation needed in order for societies to prosper. 565 more words