Vaniver comments on A potentially great improvement to minimum wage laws to handle both economic efficiency as well as poverty concerns - Less Wrong

0 Post author: VijayKrishnan 26 July 2011 12:07AM

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Comment author: Vaniver 26 July 2011 12:33:53AM 3 points [-]

As pointed out by orthonormal, Milton Friedman already came up with this decades ago. This is definitely an improvement over minimum wage laws, but has not been implemented because its primary improvement is over welfare programs, which are too entrenched to be replaced.