"The real minimum wage is zero"

This quote by Thomas Sowell is a pointer of the harsh truth of the labor market. It implies that if a person is not happy to approve the earnings provided by a company, then they will certainly not be used and will obtain no wages in any way. This is real minimum wage, absolutely no. It is a reminder that the labor market is competitive and that employers have the top hand in establishing salaries. It likewise indicates that if an individual is not ready to approve the wages provided, after that they will not be employed and will obtain no earnings whatsoever. This quote acts as a suggestion that individuals ought to be willing to accept salaries that are used to them, also if they are less than wanted, in order to make sure that they are employed as well as obtain some salaries.