Liberty Pen: Milton Friedman- ‘A Conversation On The Minimum Wage (1980)’

Source:Liberty Pen- this is from Professor Milton Friedman's Free To Choose series.

Source:FreeState Now

“A debate on whether the minimum wage hurts or helps the working class. Liberty Pen." 

From Liberty Pen  

“A debate on whether the minimum wage hurts or helps the working class. "

Source:Liberty Pen- Professor Walter E. Williams participating in this debate.

I’m in favor of a living wage for multiple reasons, but I’ll give you a practical one: if you want to low-income workers to work, instead of staying home and just collecting public assistance, you not only want a minimum wage, but you want low-income and low-skilled workers to not only be able to at least get a minimum wage, but have that wage higher than what they could get if they didn’t work at all.

For practical reasons, we should not only have a living wage, but have what Professor Milton Friedman called a negative income tax or have subsidize employment, where low-income, low-skilled people would not only work, but then get that income matched by the government up to a point, to encourage these folks to work and not stay at home, even if they have kids or other relatives to take care of.