--- title: "Meaning & Key Takeaway of: A general flat minimum-wage law for all…" description: "\"A general flat minimum-wage law for all industry is permissible, but I do not think that it is a particularly wise method of achieving the end. I know ..." image: "https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg" --- # A general flat minimum-wage law for all industry is… ![“A general flat minimum-wage law for all industry is permissible, but I do not think that it is a particularly wise method of achieving the end. I know much better methods of providing a minimum for everybody. But once you turn from laying down a general minimum for all industry to decreeing…” quote by Friedrich August von Hayek](https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg) [Download](https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg) [Open image](https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg) > “A general flat minimum-wage law for all industry is permissible, but I do not think that it is a particularly wise method of achieving the end. I know much better methods of providing a minimum for everybody. But once you turn from laying down a general minimum for all industry to decreeing particular and different minimum for different industries, then, of course, you make the price mechanism inoperative, because it is no longer the price mechanism which will guide people between industries and trades.” [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. A general minimum-wage law across all industries is allowed but not the best solution; sector-specific minima disrupt price signals that allocate resources efficiently. **In simple terms:** A universal wage floor is permissible but less effective than tailored approaches. Key Takeaway Consider targeted policies that preserve market mechanisms. Themes economics policy efficiency labor Mood analytical critical Type theoretical policy‑oriented When to use this quote - setting sector wages - designing social safety nets - balancing equity and efficiency - evaluating labor market impacts Key Concepts price mechanism allocation minimum wage industry regulation Questions to Reflect On - How can we balance fairness with market flexibility? - What alternatives preserve price signals while protecting workers? A Different Perspective Uniform wages may ignore regional cost-of-living differences, leading to unintended hardship. ★ ★ ★ ★ ★ No ratings yet [Industry](https://sms4smile.com/quotes/about/industry/) [Law](https://sms4smile.com/quotes/about/law/) [Living wage](https://sms4smile.com/quotes/about/living-wage/) [Minimum wage](https://sms4smile.com/quotes/about/minimum-wage/) [People](https://sms4smile.com/quotes/about/people/) [Thinking](https://sms4smile.com/quotes/about/thinking/) [Trade](https://sms4smile.com/quotes/about/trade/) [Wage](https://sms4smile.com/quotes/about/wage/) [Wise](https://sms4smile.com/quotes/about/wise/) ## Related quotes > [Yet it ought to be clear that a minimum wage law is, at best, a limited weapon for combatting the evil of low wages,…](https://sms4smile.com/quotes/henry-hazlitt/yet-it-ought-to-be-clear-that-a-minimum-wage-law-is-at-best-a-limited/) [Henry Hazlitt](https://sms4smile.com/quotes/author/henry-hazlitt/) > [Yet it ought to be clear that a minimum wage law is, at best, a limited weapon for combatting the evil of low wages,…](https://sms4smile.com/quotes/henry-hazlitt/yet-it-ought-to-be-clear-that-a-minimum-wage-law-is-at-best-a-limited-2/) [Henry Hazlitt](https://sms4smile.com/quotes/author/henry-hazlitt/) > [I am convinced that the minimum-wage law is the most anti-Negro law on our statute books in its effect, not its intent.](https://sms4smile.com/quotes/milton-friedman/i-am-convinced-that-the-minimum-wage-law-is-the-most-anti-negro-law/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [The minimum wage law very cleverly is misnamed. The real minimum wage is zero. That is what many inexperienced and low skilled people receive…](https://sms4smile.com/quotes/thomas-sowell/the-minimum-wage-law-very-cleverly-is-misnamed-the-real-minimum-wage/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [A minimum-wage law is, in reality, a law that makes it illegal for an employer to hire a person with limited skills.](https://sms4smile.com/quotes/milton-friedman/a-minimum-wage-law-is-in-reality-a-law-that-makes-it-illegal-for-an/) [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) > [A minimum-wage law, a law that prevents employers and employees from entering into mutually beneficial economic exchanges, is as far from a free market…](https://sms4smile.com/quotes/jacob-g-hornberger/a-minimum-wage-law-a-law-that-prevents-employers-and-employees-from/) [Jacob G. Hornberger](https://sms4smile.com/quotes/author/jacob-g-hornberger/) > [Reduced employment opportunities is one effect of minimum wage legislation. The minimum wage law has imposed incalculable harm on the disadvantaged members of our…](https://sms4smile.com/quotes/walter-e-williams/reduced-employment-opportunities-is-one-effect-of-minimum-wage/) [Walter E. Williams](https://sms4smile.com/quotes/author/walter-e-williams/) > [Working-class Americans have waited too long, close to a decade in fact, for an increase in the minimum wage. This has been the second…](https://sms4smile.com/quotes/bill-pascrell/working-class-americans-have-waited-too-long-close-to-a-decade-in/) [Bill Pascrell](https://sms4smile.com/quotes/author/bill-pascrell/) > [Minimum wage law is the 'People's Fed.' Tie minimum wage to money supply. If there is pushback against this idea, then shut down the…](https://sms4smile.com/quotes/max-keiser/minimum-wage-law-is-the-people-s-fed-tie-minimum-wage-to-money-supply/) [Max Keiser](https://sms4smile.com/quotes/author/max-keiser/) > [It is complete nihilism to propose laying down arms in a world where atom bombs are around. It is very simple: there is no…](https://sms4smile.com/quotes/anonymous/it-is-complete-nihilism-to-propose-laying-down-arms-in-a-world-where/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [She looks up at me with those vulnerable eyes. “What if it means something?” She asks. “What if it does?” “Promise me it won’t…](https://sms4smile.com/quotes/simone-elkeles/she-looks-up-at-me-with-those-vulnerable-eyes-what-if-it-means/) [Simone Elkeles](https://sms4smile.com/quotes/author/simone-elkeles/) > [The best opinion now is, that there are multitudinous forms which are not sufficiently differentiated to be distinctively either plant or animal, while, as…](https://sms4smile.com/quotes/asa-gray/the-best-opinion-now-is-that-there-are-multitudinous-forms-which-are/) [Asa Gray](https://sms4smile.com/quotes/author/asa-gray/) > [Then a lawyer said, But what of our laws, master? And he answered: 'You delight in laying down laws. Yet you delight more in…](https://sms4smile.com/quotes/anonymous/then-a-lawyer-said-but-what-of-our-laws-master-and-he-answered-you/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [Add the hippie-rock-drugs atmosphere circa 1970, and you get Clinton's rechristened group Parliament, decked out in weird costumes, singing cosmic lyrics and laying down…](https://sms4smile.com/quotes/eddie-griffin/add-the-hippie-rock-drugs-atmosphere-circa-1970-and-you-get-clinton-s/) [Eddie Griffin](https://sms4smile.com/quotes/author/eddie-griffin/) > [I just want to keep laying down really great, strong characters, and the more I go unrecognized, the better job I feel I'm doing.](https://sms4smile.com/quotes/scoot-mcnairy/i-just-want-to-keep-laying-down-really-great-strong-characters-and/) [Scoot McNairy](https://sms4smile.com/quotes/author/scoot-mcnairy/) ## More by Friedrich August von Hayek > [The system of private property is the most important guaranty of freedom, not only for those who own property, but scarcely less for those…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-system-of-private-property-is-the-most-important-guaranty-of/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [By the time any view becomes a majority view, it is no longer the best view: somebody will already have advanced beyond the point…](https://sms4smile.com/quotes/friedrich-august-von-hayek/by-the-time-any-view-becomes-a-majority-view-it-is-no-longer-the-best/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Freedom can be preserved only if it is treated as a supreme principle which must not be sacrificed for particular advantages.](https://sms4smile.com/quotes/friedrich-august-von-hayek/freedom-can-be-preserved-only-if-it-is-treated-as-a-supreme-principle/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them…](https://sms4smile.com/quotes/friedrich-august-von-hayek/should-our-moral-beliefs-really-prove-to-be-dependent-on-factual/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [It is true that the virtues which are less esteemed and practiced now--independence, self-reliance, and the willingness to bear risks, the readiness to back…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-true-that-the-virtues-which-are-less-esteemed-and-practiced-now/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Unlike the rationalism of the French Revolution, true liberalism has no quarrel with religion, and I can only deplore the militant and essentially illiberal…](https://sms4smile.com/quotes/friedrich-august-von-hayek/unlike-the-rationalism-of-the-french-revolution-true-liberalism-has/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [We must make the building of a free society once more an intellectual adventure, a deed of courage… Unless we can make the philosophic…](https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-make-the-building-of-a-free-society-once-more-an-intellectual/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The central problem of management is how spontaneous interaction of people within a firm, each possessing only bits of knowledge, can bring about the…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-central-problem-of-management-is-how-spontaneous-interaction-of/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The discussions of every age are filled with the issues on which its leading schools of thought differ. But the general intellectual atmosphere of…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-discussions-of-every-age-are-filled-with-the-issues-on-which-its/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The Nobel Prize confers on an individual an authority which in economics no man ought to possess.](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-nobel-prize-confers-on-an-individual-an-authority-which-in/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [ \[Socialistic\] economic planning, regulation, and intervention pave the way to totalitarianism by building a power structure that will inevitably be seized by the most… ](https://sms4smile.com/quotes/friedrich-august-von-hayek/socialistic-economic-planning-regulation-and-intervention-pave-the/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends…](https://sms4smile.com/quotes/friedrich-august-von-hayek/it-is-rather-a-problem-of-how-to-secure-the-best-use-of-resources/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [The state itself becomes more and more identified with the interests of those who run things than with the interests of the people in…](https://sms4smile.com/quotes/friedrich-august-von-hayek/the-state-itself-becomes-more-and-more-identified-with-the-interests/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our views of distributive justice.](https://sms4smile.com/quotes/friedrich-august-von-hayek/we-must-face-the-fact-that-the-preservation-of-individual-freedom-is/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) > [Human envy is certainly not one of the sources of discontent that a free society can eliminate. It is probably one of the essential…](https://sms4smile.com/quotes/friedrich-august-von-hayek/human-envy-is-certainly-not-one-of-the-sources-of-discontent-that-a/) [Friedrich August von Hayek](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) [Explore all 244 Friedrich August von Hayek quotes ](https://sms4smile.com/quotes/author/friedrich-august-von-hayek/) ## More Achieve quotes > [I always say there are two things to be successful. The first is decide exactly what you want - set your goals - and…](https://sms4smile.com/quotes/brian-tracy/i-always-say-there-are-two-things-to-be-successful-the-first-is/) [Brian Tracy](https://sms4smile.com/quotes/author/brian-tracy/) > [I understand that it's the music that keeps me alive... That's my lifeblood. And to give that up for, like, the TV, the cars,…](https://sms4smile.com/quotes/bruce-springsteen/i-understand-that-it-s-the-music-that-keeps-me-alive-that-s-my/) [Bruce Springsteen](https://sms4smile.com/quotes/author/bruce-springsteen/) > [I love playing for my country, getting the support. Especially for the kids and everybody, showing my example of what I can achieve so…](https://sms4smile.com/quotes/maria-sharapova/i-love-playing-for-my-country-getting-the-support-especially-for-the/) [Maria Sharapova](https://sms4smile.com/quotes/author/maria-sharapova/) > [Human beings have an innate inner drive to be autonomous, self-determined, and connected to one another. And when that drive is liberated, people achieve…](https://sms4smile.com/quotes/daniel-h-pink/human-beings-have-an-innate-inner-drive-to-be-autonomous-self/) [Daniel H. Pink](https://sms4smile.com/quotes/author/daniel-h-pink/) > [Focus on becoming more to achieve more while doing less](https://sms4smile.com/quotes/hal-elrod/focus-on-becoming-more-to-achieve-more-while-doing-less/) [Hal Elrod](https://sms4smile.com/quotes/author/hal-elrod/) > [I hope that the Palestinians don't make the mistake of unleashing a new intifada. They've tried it twice before, and the consequences were bad…](https://sms4smile.com/quotes/tom-segev/i-hope-that-the-palestinians-don-t-make-the-mistake-of-unleashing-a/) [Tom Segev](https://sms4smile.com/quotes/author/tom-segev/) > [I'm a film guy. I love it. When I read the screenplay, I knew that there would be no HD camera that could achieve…](https://sms4smile.com/quotes/deon-taylor/i-m-a-film-guy-i-love-it-when-i-read-the-screenplay-i-knew-that-there/) Deon Taylor > [One achieves true human dignity only when one serves. Only he is great who subjects himself to taking part in the achievement of a…](https://sms4smile.com/quotes/jose-antonio-primo-de-rivera/one-achieves-true-human-dignity-only-when-one-serves-only-he-is-great/) Jose Antonio Primo de Rivera > [I'm optimistic Hong Kong will achieve universal suffrage - no matter the attitude of Beijing.](https://sms4smile.com/quotes/joshua-wong/i-m-optimistic-hong-kong-will-achieve-universal-suffrage-no-matter/) [Joshua Wong](https://sms4smile.com/quotes/author/joshua-wong/) > [Each man is capable of doing one thing well. If he attempts several, he will fail to achieve distinction in any.](https://sms4smile.com/quotes/plato/each-man-is-capable-of-doing-one-thing-well-if-he-attempts-several-he/) [Plato](https://sms4smile.com/quotes/author/plato/) > [Governments follow their people. A great deal has to do with the vision of the leadership of governments. They have a vision, and they…](https://sms4smile.com/quotes/salman-khurshid/governments-follow-their-people-a-great-deal-has-to-do-with-the/) [Salman Khurshid](https://sms4smile.com/quotes/author/salman-khurshid/) > [To achieve victory we must mass our forces at the hub of all power & movement. The enemy's 'Center of Gravity'](https://sms4smile.com/quotes/anonymous/to-achieve-victory-we-must-mass-our-forces-at-the-hub-of-all-power/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [If your only goal is to become rich, you will never achieve it.](https://sms4smile.com/quotes/john-d-rockefeller/if-your-only-goal-is-to-become-rich-you-will-never-achieve-it/) [John D. Rockefeller](https://sms4smile.com/quotes/author/john-d-rockefeller/) > [To achieve something you've never achieved before, you must become someone you've never been before.](https://sms4smile.com/quotes/shubham-joshi/to-achieve-something-you-ve-never-achieved-before-you-must-become/) [Shubham Joshi](https://sms4smile.com/quotes/author/shubham-joshi/) > [I've identified as bisexual since I was a teenager, and if we want to achieve equality for all in our policies, we need more…](https://sms4smile.com/quotes/katie-hill/i-ve-identified-as-bisexual-since-i-was-a-teenager-and-if-we-want-to/) [Katie Hill](https://sms4smile.com/quotes/author/katie-hill/) Browse all 6,390 Achieve quotes ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Quotation", "text": "A general flat minimum-wage law for all industry is permissible, but I do not think that it is a particularly wise method of achieving the end. I know much better methods of providing a minimum for everybody. But once you turn from laying down a general minimum for all industry to decreeing particular and different minimum for different industries, then, of course, you make the price mechanism inoperative, because it is no longer the price mechanism which will guide people between industries and trades.", "creator": { "@type": "Person", "name": "Friedrich August von Hayek" }, "isPartOf": { "@id": "https://sms4smile.com/quotes/#website" }, "url": "https://sms4smile.com/quotes/friedrich-august-von-hayek/a-general-flat-minimum-wage-law-for-all-industry-is-permissible-but-i/", "about": { "@type": "Thing", "name": "Achieve" }, "@id": "https://sms4smile.com/quotes/friedrich-august-von-hayek/a-general-flat-minimum-wage-law-for-all-industry-is-permissible-but-i/#quotation", "image": { "@type": "ImageObject", "@id": "https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg", "contentUrl": "https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg", "url": "https://sms4smile.com/quotes/i/929/friedrich-august-von-hayek-141_achieve_a-general-flat-minimum-wage-law-for-all_1827499.jpg", "width": 1080, "height": 1080, "caption": "“A general flat minimum-wage law for all industry is permissible, but I do not think that it is a…” — Friedrich August von Hayek", "creditText": "SMS4Smile Quotes", "creator": { "@id": "https://sms4smile.com/quotes/#organization" } } }, { "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://sms4smile.com/" }, { "@type": "ListItem", "position": 2, "name": "Quotes", "item": "https://sms4smile.com/quotes/" }, { "@type": "ListItem", "position": 3, "name": "Friedrich August von Hayek", "item": "https://sms4smile.com/quotes/author/friedrich-august-von-hayek/" }, { "@type": "ListItem", "position": 4, "name": "A general flat minimum-wage law for...", "item": "https://sms4smile.com/quotes/friedrich-august-von-hayek/a-general-flat-minimum-wage-law-for-all-industry-is-permissible-but-i/" } ], "@id": "https://sms4smile.com/quotes/friedrich-august-von-hayek/a-general-flat-minimum-wage-law-for-all-industry-is-permissible-but-i/#breadcrumb" }, { "@type": "WebSite", "@id": "https://sms4smile.com/quotes/#website", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "publisher": { "@id": "https://sms4smile.com/quotes/#organization" } }, { "@type": "Organization", "@id": "https://sms4smile.com/quotes/#organization", "name": "SMS4Smile Quotes", "url": "https://sms4smile.com/quotes/", "logo": { "@type": "ImageObject", "url": "https://sms4smile.com/quotes/wp-content/themes/sq/assets/icons/icon-512.png", "width": 512, "height": 512 } } ] } ```