The question of the minimum wage goes beyond the immediate problem. It strikes at a basic underpinning of our democratic system. It touches on the ability of individuals to enter freely into contract without coercion and without arbitrary restrictions for mutual profit. Have we so soon forgotten that the American Revolution was fought in part because of such restrictions? Have we forgotten that there is a correlation between a free market economy and the amount of personal freedom enjoyed by the inhabitants of a country? I certainly hope not. What we are accomplishing by setting a minimum wage is restricting the ability of persons to freely contract for their services and, in so doing, effectively limiting their opportunities to achieve economic well-being.
Tom Hagedorn (R-MN), speaking to the House of Representatives: H.R. 3744—Minimum Wage Bill. Congressional Record, page H12271.
