The first thing that happens, for example, when a law is passed that no one shall be paid less than $106 for a forty-hour week is that no one who is … - Henry Hazlitt

You cannot make a man worth a given amount by making it illegal for anyone to offer him anything less. You merely deprive him of the right to earn the amount that his abilities and situation would permit him to earn, while you deprive the community even of the moderate services that he is capable of rendering. In brief, for a low wage you substitute unemployment. You do harm all around, with no comparable compensation.

either immediately or ultimately every dollar of government spending must be raised through a dollar of taxation.

Economics is haunted by more fallacies than any other study known to man. This is no accident. The inherent difficulties of the subject would be great enough in any case, but they are multiplied a thousandfold by a factor that is insignificant in, say, physics, mathematics or medicine - the special pleading of selfish interests.

Saving” in short, in the modern world, is only another form of spending.