"El salario mínimo real es cero"
Simplified meaning
This means that if someone can't find a job, they earn nothing. Imagine a store hiring people. If the store pays very low wages, it's still better than not getting hired at all, where you'd make no money. For example, in times of high unemployment, some people might take low-paying jobs just to have an income.
To put it into perspective, think about a teenager who wants to make some money over the summer. If she doesn't get hired for a part-time job at a fast-food restaurant because they don't want to pay a higher wage, she ends up with no money instead of a little money. This idea highlights the importance of even low-paying jobs, as they offer a way to earn something rather than nothing. It shows that having a job with any wage is crucial for people trying to support themselves or their families.
MORE QUOTES BY Thomas Sowell
FEATURED QUOTES
