Wealth Quote by Don Watkins

“hat are the effects of increasing minimum wages?” asks Paul Krugman. “Any Econ 101 student can tell you the answer: The higher wage reduces…

— Don Watkins

“All of these agencies were enormously active during the so-called laissez-faire era. As the former CEO of BB&T Bank John Allison notes, “Government spending…

— Don Watkins

“There is an inequality problem involved in cronyism, however: cronyism is an example of political inequality. It allows a privileged group of people to…

— Don Watkins

“The true source of economic security is self-reliance and economic freedom—Social Security is immoral because it subverts both. It sabotages the virtues that enable…

— Don Watkins

“One result of the federal government’s student financial aid programs is higher tuition costs at our nation’s colleges and universities.” Although paradoxical, this result…

— Don Watkins

“A college student who wouldn’t have taken a McDonald’s job for $7.25 an hour may find it worthwhile at $10 an hour, leaving fewer…

— Don Watkins

“That’s what happened at Ford, for example. In 1914, Henry Ford famously raised his starting wage to $5 a day (nearly $120 in today’s…

— Don Watkins

“Some economic inequality critics go further and contend that there comes a point at which inequality undermines progress—and, by and large, they believe the…

— Don Watkins

“Today, more and more of the world is following our lead, with the result that billions around the globe have been liberated from poverty…

— Don Watkins

“Wealth is not distributed by society: it is produced and traded by the people who create it. To distribute it, society would first have…

— Don Watkins

“We’re taught to think of the minimum wage as a mechanism for helping people earn more. What it actually does is prevent people from…

— Don Watkins

“Consequently, even many critics of economic inequality are hesitant to endorse the claim that inequality undermines growth. Paul Krugman, for instance, says that he…

— Don Watkins