Famous quote by Arthur Laffer

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The minimum wage is the black teenage unemployment act. It is the guaranteed way of holding the poor, the minorities and
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"The minimum wage is the black teenage unemployment act. It is the guaranteed way of holding the poor, the minorities and the disenfranchised out of the mainstream is if you price their original services too high"

- Arthur Laffer

About this Quote

In this quote, Arthur Laffer is expressing his belief that the minimum wage is actually hindering the job opportunity for black teens. He argues that by setting a base pay, it ends up being too pricey for companies to hire individuals who may not have as much experience or skills, such as those from lower income or minority backgrounds. Laffer recommends that this ultimately keeps these groups from being able to enter the labor force and become part of the mainstream economy. He believes that by removing the minimum wage, it would open up more task opportunities for these marginalized groups and help them become more incorporated into society.

About the Author

Arthur Laffer This quote is written / told by Arthur Laffer somewhere between August 14, 1940 and today. He was a famous Economist from USA. The author also have 21 other quotes.

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