Jennifer Burns

And if you set the minimum wage too high, businesses, instead of hiring that higher-priced laborer, would not hire or like we could think of today right they put an electronic checkout you know or something like this where you don't actually need the labor so he really believed the minimum wage had that perverse incentive now there's this is a live debate on what minimum wages do and they're

And if you set the minimum wage too high, businesses, instead of hiring that higher-priced laborer, would not hire or like we could think of today right they put an electronic checkout you know or something like this where you don't actually need the labor so he really believed the minimum wage had that perverse incentive now there's this is a live debate on what minimum wages do and they're

And if you set the minimum wage too high, businesses, instead of hiring that higher-priced laborer, would not hire or like we could think of today right they put an electronic checkout you know or something like this where you don't actually need the labor so he really believed the minimum wage had that perverse incentive now there's this is a live debate on what minimum wages do and they're

seems to be a level at which you can set them that they can not have that perverse effect and in fact can kind of create people with more spending money that then powers the economy. So he had a very sort of clinical analysis of that rather than an empirical one or a really abstract analysis. But the minimum income is fascinating because it seems very leftist to us.

seems to be a level at which you can set them that they can not have that perverse effect and in fact can kind of create people with more spending money that then powers the economy. So he had a very sort of clinical analysis of that rather than an empirical one or a really abstract analysis. But the minimum income is fascinating because it seems very leftist to us.

seems to be a level at which you can set them that they can not have that perverse effect and in fact can kind of create people with more spending money that then powers the economy. So he had a very sort of clinical analysis of that rather than an empirical one or a really abstract analysis. But the minimum income is fascinating because it seems very leftist to us.

But what it is is it's purely individualistic. And it never really happened because it was so purely individualistic because American social policy typically identifies like this group of people is deserving and will give them benefits. So the classic example is soldiers, veterans. Another example is mothers raising dependent children. These people deserve money.

But what it is is it's purely individualistic. And it never really happened because it was so purely individualistic because American social policy typically identifies like this group of people is deserving and will give them benefits. So the classic example is soldiers, veterans. Another example is mothers raising dependent children. These people deserve money.

But what it is is it's purely individualistic. And it never really happened because it was so purely individualistic because American social policy typically identifies like this group of people is deserving and will give them benefits. So the classic example is soldiers, veterans. Another example is mothers raising dependent children. These people deserve money.

The rest of you, you better go out and work. And so Friedman's proposal, it really caught on in the 60s. It ultimately went nowhere, but it was no litmus test, no income analysis, just we're going to give you this much. Everyone's going to get this much.

The rest of you, you better go out and work. And so Friedman's proposal, it really caught on in the 60s. It ultimately went nowhere, but it was no litmus test, no income analysis, just we're going to give you this much. Everyone's going to get this much.

The rest of you, you better go out and work. And so Friedman's proposal, it really caught on in the 60s. It ultimately went nowhere, but it was no litmus test, no income analysis, just we're going to give you this much. Everyone's going to get this much.

And he decided once mass taxation had come in, you could do it through taxes and you could just rebate people who didn't pay income taxes, got a rebate. That actually came to pass. It's the earned income tax credit. And it's considered extremely successful by policy analysts. It does what it's supposed to do. It's not that expensive.

And he decided once mass taxation had come in, you could do it through taxes and you could just rebate people who didn't pay income taxes, got a rebate. That actually came to pass. It's the earned income tax credit. And it's considered extremely successful by policy analysts. It does what it's supposed to do. It's not that expensive.

And he decided once mass taxation had come in, you could do it through taxes and you could just rebate people who didn't pay income taxes, got a rebate. That actually came to pass. It's the earned income tax credit. And it's considered extremely successful by policy analysts. It does what it's supposed to do. It's not that expensive.

And so I see that as a kind of paradigm of his thinking in that instead of creating a bureaucracy... that does some form of redistribution, or instead of trying to intervene in the market for labor or the market for something else, the market for housing, you provide a cash grant that people spend for themselves.

And so I see that as a kind of paradigm of his thinking in that instead of creating a bureaucracy... that does some form of redistribution, or instead of trying to intervene in the market for labor or the market for something else, the market for housing, you provide a cash grant that people spend for themselves.

And so I see that as a kind of paradigm of his thinking in that instead of creating a bureaucracy... that does some form of redistribution, or instead of trying to intervene in the market for labor or the market for something else, the market for housing, you provide a cash grant that people spend for themselves.

And so, interestingly, that's what happened in the emergency situation of COVID, right? That's exactly what people did. They followed that model. We just get money out quick. And there's a lot of discussion still about UBI is something that should be done.

And so, interestingly, that's what happened in the emergency situation of COVID, right? That's exactly what people did. They followed that model. We just get money out quick. And there's a lot of discussion still about UBI is something that should be done.