Thursday, July 30, 2015
3:00 pm - 4:30 pm
901 Congress Avenue
Red McCombs Event Center, 6th Floor
In honor of Milton Friedman Legacy Day, TPPF will host "Wage Wars: An Interactive Economic Experience." Join us for complimentary ice cream and coffee as we explore first-hand how government-mandated minimum wage salaries affect employers and employees alike.
About the Game:
Hosted by Dr. Vance Ginn, TPPF Economist, the minimum wage game helps participants understand how the labor market works and how a government-mandated minimum wage affects this market. The game includes three sessions providing opportunities to explore how a free labor market compares with one hampered by a minimum wage. The results support the research showing that the best way for workers to earn a higher wage is by improving their skills through education and on-the-job training. A minimum wage reduces job opportunities for those with the lowest skills hurting those most who the government wants to help. For more information, please click here.
About Milton Friedman:
Milton Friedman was the twentieth century’s most prominent advocate of free markets. Born in 1912 to Jewish immigrants in New York City, he attended Rutgers University, where he earned his B.A. at the age of twenty. He went on to earn his M.A. from the University of Chicago in 1933 and his Ph.D. from Columbia University in 1946. In 1951 Friedman received the John Bates Clark Medal honoring economists under age forty for outstanding achievement. In 1976 he was awarded the Nobel Prize in economics for “his achievements in the field of consumption analysis, monetary history and theory, and for his demonstration of the complexity of stabilization policy.” Before that time he had served as an adviser to President Richard Nixon and was president of the American Economic Association in 1967. After retiring from the University of Chicago in 1977, Friedman became a senior research fellow at the Hoover Institution at Stanford University. To learn more about Milton Friedman, please click here.