Milton Friedman explains the fallacy of a minimum wage 3


By Tom Quiner

The late Nobel Laureate economist, Milton Friedman, explains why minimum wage legislation is counterproductive. He explains it better than anyone.  The clip above was made when the minimum wage was around $2.50, which dates the interview around 1977.  Unemployment for teens, and especially black teens, has only gotten worse, as I highlighted in my previous post.

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