Last updated on: 3/23/2016 | Author:

George Reisman, PhD Biography

Professor Emeritus of Economics at Pepperdine University
Con to the question "Should the Federal Minimum Wage Be Increased?"

“Raising the minimum wage is a formula for causing unemployment among the least-skilled members of society. The higher wages are, the higher costs of production are. The higher costs of production are, the higher prices are. The higher prices are, the smaller are the quantities of goods and services demanded and the number of workers employed in producing them…

[T]he higher the minimum wage is raised, the worse are the effects on poor people.”

“How Minimum Wage Laws Increase Poverty,”, Apr. 4, 2014

Involvement and Affiliations:
  • Professor Emeritus of Economics, Pepperdine University, Aug. 2005-present
  • President, Jefferson School of Philosophy, Economics, and Psychology
  • Author, Ludwig von Mises Institute
  • Former Professor of Economics, Pepperdine University
  • PhD, New York University, 1963
  • MBA, New York University
  • AB, Columbia University
  • Twitter handle: @GGReisman
  • Was a student of Ludwig von Mises and Ayn Rand
  • Has been published in the Quarterly Journal of Austrian Economics
Quoted in:
Pro & Con Quotes: Should the Federal Minimum Wage Be Increased?