Benjamin Tucker Quotes

All of the economic theories in the world translate themselves eventually to what happens to people in communities.

I do not support raising the minimum wage, and the reason is as follows. When the minimum wage is raised, workers are priced out of the market. That is the economic reality that seems, at least so far, to be missing from this discussion.

I had become interested in economics, an interest that was transformed into a lifetime dedication when I met with the mathematical theory of general economic equilibrium.

If workmen become scarce, the manufacturer gives higher wages, but at first requires an encrease of labour; and this is willingly submitted to by the artisan, who can now eat and drink better, to compensate his additional toil and fatigue.

Economics is a very dangerous science

Never trust an economist with your job. Learn about economics yourself. And make up your own mind about what might protect your job-and what might destroy it.

Free migration within Europe means that countries that have done a better job at reducing unemployment will predictably end up with more than their fair share of refugees. Workers in these countries bear the cost in depressed wages and higher unemployment, while employers benefit from cheaper labor.

Obviously, we want people to be paid a wage that could help make ends meet, but when you increase artificially the cost of labor to do a job, then oftentimes, those jobs will just go away.

So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment.

In a free market, businesses compete for customers by keeping prices down and for labor by keeping wages up.

Economics profession, they've been - they've been confident in various formulas, but economics is not physics. The same formula that works in one decade doesn't work in the next. Economics is a difficult subject.

Increasing minimum wage doesn't build a stronger economy.

When union membership goes down, so do wages.

Tariffs would mean prices going up, and customers don't want higher prices.

If you're fighting against a minimum wage increase, you're fighting an uphill battle, because most Americans, even most Republicans, are okay with raising the minimum wage.

I concluded that the trade agreements weren't working as promised, and was depreciating the wages and the manufacturing base, and the jobs of Americans, and that both needed to change, and Donald Trump was out there. So I went to his rally.

This is the debate we have every time we talk about the minimum wage, that if we raise it even 50 cents, that it means employers are just going to shut down. It's not true.

The fundamental law of capitalism is: when workers have more money, businesses have more customers, and need more workers. The idea that high wages equals low employment, it's absurd.

But a tax on luxuries would no other effect than to raise their price. It would fall wholly on the consumer, and could neither increase wages nor lower profits.

Mr. Greenspan did a very good job in the early 1990's. But recently he's fallen prey to this crazy theory that prosperity causes inflation. So they're trying to slow the economy down by raising interest rates. It's like a doctor saying you're in great health, so we have to make you sick a little bit. It's a bizarre theory. It's going to hurt our economy.

The striking thing about America is - it's historically, extraordinary unusual, I don't of any other instance - is that productivity of workers and wages have not moved in tandem.

When bond prices fall, interest rates soar, with painful consequences for all borrowers.

Don't let anybody tell you that raising the minimum wage will kill jobs.

I would never make a good economist. You know, an economist is a man that can tell you anything about — well, he will tell you what can happen under any given condition — and his guess is liable to be as good as anybody else's, too.

If I thought that raising the minimum wage was the best way to help people increase their pay, I would be all for it, but it isn't. If you raise the minimum wage, you're going to make people more expensive than a machine. And that means all this automation that's replacing jobs and people is only going to be accelerated.