Celebrating humanity's flourishing through the spread of capitalism and the rule of law
20 Jul 2014 1 Comment
in labour economics, Milton Friedman, welfare reform Tags: capitalism and freedom, earned income tax credit, family tax credits, guaranteed minimum income, negative income tax
Curiously, a family tax credit or earned income tax credit is the most successful anti-poverty tool in the late 20th century. Furthermore, those on the Left are relatively convinced that the sole cause of poverty is a lack of money, and the solution is to give the poor more money.
Friedman, Hayek in the Constitution of Liberty, and George Stigler in his great paper on the minimum wage in 1946 all supported a guaranteed minimum income.
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