Public Square

Video: Bill Gates on the Minimum Wage

LinkedIn Email Print

When Bill Gates appeared on MSNBC on Tuesday morning, he shocked many viewers with his comments about raising the minimum wage.

When asked whether raising the minimum wage was a good idea, Gates responded,

“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.”

Gates’s comments were particularly interesting in light of DC’s recent minimum wage increases, and his words highlight the the importance of considering the possible unintended consequences of any policy.

Share on Facebook Tweet

Leave your comments here.

Have our latest content delivered right to your inbox!

Further readings on Public Square

  • Public Square
  • Theology 101
Who Protects Those Who Work to Protect Us?

By: Russell Gehrlein

4 minute read

As we celebrate Memorial Day, I am proud to have served in the U.S. Army, especially now. Lately, I have…

  • Public Square

If you ask a non-Christian what comes to mind when he thinks of Christianity, there is a good chance that…

Have our latest content delivered right to your inbox!