Yet it ought to be clear that a minimum wage law is, at…
“Yet it ought to be clear that a minimum wage law is, at best, a limited weapon for combatting the evil of low wages, and that the possible good to be achieved by such a law can exceed the possible harm only in proportion as its aims are mode.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
A minimum wage can help raise pay but its effectiveness depends on how narrowly its goals are defined and balanced against potential job loss.
In simple terms: Minimum wage helps but must be carefully targeted.
Key Takeaway
Use wage policy with caution.
Themes
economics
labor
policy
inequality
Mood
cautious
analytical
Type
policy
economic
cautionary
When to use this quote
- government legislation
- business hiring
- worker negotiations
- economic forecasting
Key Concepts
market dynamics
trade-offs
employment effects
Questions to Reflect On
- What are the trade‑offs between higher wages and job availability?
- How can policy be designed to minimize negative side effects?
A Different Perspective
May reduce employment opportunities if set too high.