Courses Quote by Murray Rothbard
“Minimum wage laws tragically generate unemployment, especially so among the poorest and least skilled or educated workers... Because a minimum wage, of course, does not guarantee any worker's employment; it only prohibits, by force of law, anyone from being hired at the wage which would pay his employer to hire him.”
About This Quote
Source Book: Man, Economy, and State, 1962
The author argues that minimum wage laws cause unemployment, especially for low-skilled workers, by setting wages above market equilibrium.
In simple terms: Minimum wages can hurt job prospects for the poorest.
Key Takeaway
Consider market-driven wage solutions.
Themes
economics
labor
unemployment
Mood
critical
analytical
Type
economic
policy
When to use this quote
- policy debates
- business hiring
- government regulation
- social welfare programs
Key Concepts
libertarianism
price controls
market equilibrium
employment effects
Questions to Reflect On
- Is there a balance between wages and employment?
- What alternatives could protect low-wage workers?
A Different Perspective
Some argue minimum wages reduce poverty despite job losses.
![“Bernie [Ecclestone] is the commercial rights holder so the more outgoing the champion is, the better. Of course. I also do think about our sport and want to make an effort - but in my own way. I am Nico [Rosberg] and not Lewis [Hamilton]!” quote by Bernie Ecclestone](https://sms4smile.com/quotes/img-quotes/15c/bernie-ecclestone-8452_champion_bernie-ecclestone-is-the-commercial-righ_2948.jpg)
![“Leave a cavity behind the [wall] facings, and on the inside build walls two feet thick, made of red dimension stone or burnt brick or lava in courses, and then bind them to the fronts by means of iron clamps and lead. The beds and builds, all settling equally and bonded at the joints, will not let…” quote by Marcus Vitruvius Pollio](https://sms4smile.com/quotes/img-quotes/d76/marcus-vitruvius-pollio-7498_bed_leave-a-cavity-behind-the-wall-facings-a_5922.jpg)
