Posts
What Drives Higher Unemployment? - Patrick Barron - Mises Daily: "Mises explains that machinery replaces men only when the market is driving the cost of labor higher. Labor costs are rising because capital investment is making labor more productive. To remain in business, the businessman must invest in capital goods to boost the productivity of labor in his industry, too. He will do that when capital is sufficiently available."
"What would all those labor lawyers, judges, advocates, investigators, insurance providers, and record-keepers do if the country scrapped all labor laws? And what would happen to all the welfare administrators and caseworkers if all men were forced to be responsible and self-reliant, because government refused to enslave their fellow citizens to provide for their upkeep?"
Wednesday, May 25, 2011
Subscribe to:
Posts (Atom)