Tuesday, May 18, 2021

Quote of the Day: 18 May 2021 #QotD

“It would be comforting to believe that the government can simply decree higher pay for low-wage workers, without having to worry about unfortunate repercussions, but the preponderance of evidence indicates that labor is not exempt from the basic economic principle that artificially high prices cause surpluses.” -Thomas Sowell
“It would be comforting to believe that the government can simply decree higher pay for low-wage workers, without having to worry about unfortunate repercussions, but the preponderance of evidence indicates that labor is not exempt from the basic economic principle that artificially high prices cause surpluses.” -Thomas Sowell
[There are a lot of things that would be comforting to believe that are nevertheless untrue. We must accept the world as it is, not as we wish it would be.]

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