Groups Quote by Milton Friedman
“The real tragedy of minimum wage laws is that they are supported by well-meaning groups who want to reduce poverty. But the people who are hurt most by higher minimums are the most poverty stricken.”
About This Quote
Source Book: Capitalism and Freedom, Milton Friedman, 1962
Minimum wage can unintentionally hurt the poorest by reducing jobs, despite good intentions.
In simple terms: Higher wages may cut jobs for low‑skill workers.
Key Takeaway
Consider alternatives that truly lift the poor.
Themes
economics
policy
poverty
Mood
critical
analytical
concerned
Type
policy
economic
When to use this quote
- policy debate
- social welfare programs
- business hiring
- government legislation
Key Concepts
labor market
unemployment
wage dynamics
Questions to Reflect On
- What policies could help without harming jobs?
- How can we balance fairness and employment?
A Different Perspective
Complex causes of poverty extend beyond wages alone.
![“[U]nless oppressed groups stick together, and on alliances of self interest rather than do-goodism; nothing can be accomplished in the long run to dismantle the apparatus of oppression.” quote by Shulamith Firestone](https://sms4smile.com/quotes/img-quotes/d7b/shulamith-firestone-12980_accomplished_u-nless-oppressed-groups-stick-together_5485.jpg)
