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Milton Friedman Quotes: Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.
         

Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.


Milton Friedman
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"Milton Friedman Quotes." Quoteslyfe.com, 2024. Thu. 25 Apr. 2024. <https://www.quoteslyfe.com/quote/Every-economist-knows-that-minimum-wages-either-899750>.





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Other quotes of Milton Friedman


A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.

A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.



If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.

If you put the federal government in charge of the Sahara Desert, in 5 years there'd be a shortage of sand.



Underlying most arguments against the free market is a lack of belief in freedom itself.

Underlying most arguments against the free market is a lack of belief in freedom itself.



You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.

You cannot be sure that you are right unless you understand the arguments against your views better than your opponents do.



The essential notion of a capitalist society ... is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.

The essential notion of a capitalist society ... is voluntary cooperation, voluntary exchange. The essential notion of a socialist society is force.



I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.

I am favor of cutting taxes under any circumstances and for any excuse, for any reason, whenever it's possible.



The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.

The great advances of civilization, whether in architecture or painting, in science or literature, in industry or agriculture, have never come from centralized government.



Nothing is so permanent as a temporary government program.

Nothing is so permanent as a temporary government program.



You cannot simultaneously have free immigration and a welfare state.

You cannot simultaneously have free immigration and a welfare state.



The government solution to a problem is usually as bad as the problem.

The government solution to a problem is usually as bad as the problem.





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Let them shoot us in the head, My blood will grow rootsand will blossom.

Let them shoot us in the head, My blood will grow rootsand will blossom.



If a person who grew up in an unhappy family cannot reprogram the sub consciousness he will not be able to create a strong marital union in the future

If a person who grew up in an unhappy family cannot reprogram the sub consciousness he will not be able to create a strong marital union in the future



Good architecture lets nature in.

Good architecture lets nature in.



A person is born with feelings of envy and hate. If he gives way to them, they will lead him to violence and crime, and any sense of loyalty and good faith will be abandoned.

A person is born with feelings of envy and hate. If he gives way to them, they will lead him to violence and crime, and any sense of loyalty and good faith will be abandoned.



But let the past as nothing be. For the future my view is that the fight must go on.

But let the past as nothing be. For the future my view is that the fight must go on.



All great enterprises are self-supporting.

All great enterprises are self-supporting.



It is the artistic mission to penetrate as far as may be toward that secret ground where primal law feeds growth.

It is the artistic mission to penetrate as far as may be toward that secret ground where primal law feeds growth.



Parineeta is a classic love story.

Parineeta is a classic love story.



Politics is a delicate business. I understand that well. But if a party is not willing to stand up for what is right, does it deserve to win back control of the government?

Politics is a delicate business. I understand that well. But if a party is not willing to stand up for what is right, does it deserve to win back control of the government?



Don't make excuses - make improvements!

Don't make excuses - make improvements!




Quote Description


This page presents the quote "Every economist knows that minimum wages either do nothing or cause inflation and unemployment. That's not a statement, it's a definition.". Author of this quote is Milton Friedman. This quote is about inflation, economist, minimum, unemployment, knows, wages, investing,.