--- title: "Meaning & Key Takeaway of: The real tragedy of minimum wage laws is…" description: "\"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..." image: "https://sms4smile.com/quotes/i/8f7/milton-friedman-616_groups_the-real-tragedy-of-minimum-wage-laws-is_3194813.png" --- # The real tragedy of minimum wage laws is that they are… ![“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.” quote by Milton Friedman](https://sms4smile.com/quotes/i/8f7/milton-friedman-616_groups_the-real-tragedy-of-minimum-wage-laws-is_3194813.png) [Download](https://sms4smile.com/quotes/i/8f7/milton-friedman-616_groups_the-real-tragedy-of-minimum-wage-laws-is_3194813.png) [Open image](https://sms4smile.com/quotes/i/8f7/milton-friedman-616_groups_the-real-tragedy-of-minimum-wage-laws-is_3194813.png) > “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.” [Milton Friedman](https://sms4smile.com/quotes/author/milton-friedman/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. 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. ★ ★ ★ ★ ★ No ratings yet [Groups](https://sms4smile.com/quotes/about/groups/) [Higher](https://sms4smile.com/quotes/about/higher/) [Hurt](https://sms4smile.com/quotes/about/hurt/) [Law](https://sms4smile.com/quotes/about/law/) [Minimum](https://sms4smile.com/quotes/about/minimum/) [Minimum wage](https://sms4smile.com/quotes/about/minimum-wage/) [Minimums Poverty](https://sms4smile.com/quotes/about/minimums-poverty-5907618/) [People](https://sms4smile.com/quotes/about/people/) [Poverty](https://sms4smile.com/quotes/about/poverty/) [Poverty People](https://sms4smile.com/quotes/about/poverty-people-580713/) [Real](https://sms4smile.com/quotes/about/real/) [Reduce Poverty](https://sms4smile.com/quotes/about/reduce-poverty-233950/) [Tragedy](https://sms4smile.com/quotes/about/tragedy/) [Wage](https://sms4smile.com/quotes/about/wage/) [Wage Laws](https://sms4smile.com/quotes/about/wage-laws-1501682/) [Want](https://sms4smile.com/quotes/about/want/) [Wells](https://sms4smile.com/quotes/about/wells/) ## Related quotes > [I want people to make a lot more than $9. $9 is not enough. 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Realities can be left to others, so…](https://sms4smile.com/quotes/thomas-sowell/minimum-wage-laws-appear-to-give-low-income-workers-something-for/) [Thomas Sowell](https://sms4smile.com/quotes/author/thomas-sowell/) > [Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does…](https://sms4smile.com/quotes/murray-rothbard/minimum-wage-laws-tragically-generate-unemployment-especially-so/) [Murray Rothbard](https://sms4smile.com/quotes/author/murray-rothbard/) > [I want people to make a lot more than $9 - $9 is not enough. The problem is you can't do that by mandating…](https://sms4smile.com/quotes/marco-rubio/i-want-people-to-make-a-lot-more-than-9-9-is-not-enough-the-problem-2/) [Marco Rubio](https://sms4smile.com/quotes/author/marco-rubio/) > [“WE HAVE ALREADY seen some of the harmful results of arbitrary governmental efforts to raise the price of favored commodities. The same sort of…](https://sms4smile.com/quotes/henry-hazlitt/we-have-already-seen-some-of-the-harmful-results-of-arbitrary/) [Henry Hazlitt](https://sms4smile.com/quotes/author/henry-hazlitt/) > [Minimum-wage laws are one of the most powerful tools in the arsenal of racists.](https://sms4smile.com/quotes/walter-e-williams/minimum-wage-laws-are-one-of-the-most-powerful-tools-in-the-arsenal/) [Walter E. Williams](https://sms4smile.com/quotes/author/walter-e-williams/) > [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/) > [The high rate of unemployment among teenagers, and especially black teenagers, is both a scandal and a serious source of social unrest. 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He's got no successes to brag about. 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