Bill Gates says minimum wage can cause job destruction

Bill Gates surprised his hosts at MSNBC in a recent interview. He cautioned against the minimum wage as a tool for supporting workers in poverty, noting that it would increase the incentive for employers to replace their staff with automation or find loopholes in the law.

He said:

Well, jobs are a great thing. So you have to be a bit careful: If you raise the minimum wage, you’re encouraging labor substitution, and you’re going to go buy machines and automate things — or cause jobs to appear outside of that jurisdiction. And so within certain limits, you know, it does cause job destruction. If you really start pushing it, then you’re just making a huge trade-off.

Related Articles

Psychology: The New Liberal Frontier

[] Providing more resources to inner city children does more harm than

UA-140492650-2 UA-140492650-1