We've all heard the phrase 'equal pay for equal work.' Many of those who habitually repeat this mantra may not realize that it is simply a variation of the discredited labor theory of value (LTV), which is generally associated with Marxian economics.

By mandating equal pay, the government erases the competitive advantage of those people who are willing to take less pay. In addition, employers are less willing to hire employees who they believe could subject them to increased liability.

Employment is a contract between an employer and an employee. Thus, laws prohibiting discriminatory pay are an infringement on private contracts.

Kane Quotes