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Tag Archives: labor
Defining Employment
Is involuntary unemployment possible? Debate between Misesians. Continue reading
Structural Unemployment and Business Cycles
High natural unemployment is a product of poor labor policy, and not of markets or the length of recessions. Continue reading
Consistency on Unemployment
Full employment is inconsistent with the Austrian rejection of long-run equilibrium models. Continue reading
Posted in Theory
Tagged Austrian, equilibrium, labor, long, market, neoclassical, run, Unemployment
12 Comments
Spain’s Labor Problems
With growing interventionism in Spain, the black market is Spain’s only saving grace. Continue reading
Posted in Current Events
Tagged inflation, labor, Laws, Spain, stagnation, tax, Unemployment
1 Comment
How Not to Make Globalization Work
In Making Globalization Work, Joseph Stiglitz fails to make a good case against liberalization. Instead, he further underscores liberalization’s importance in global development, and instead misidentifies mercantilism as ” capitalism”. Continue reading
Posted in Books
Tagged Capital, global, globalization, intellectual, labor, liberalization, markets, outsourcing, Patents, Private, Property, Stiglitz, Unemployment, wages
4 Comments
Is It Fair to Lay a Worker Off?
Labor laws regulating how a business can fire its workers should be eliminated. Otherwise, government is actively discriminating against those who deserve the job. Continue reading
Why I Don’t Accept Pay Raises
My low hourly wage rate makes me an attractive employee. By accepting a higher wage rate I decrease my appeal by that much, meaning that it would make far more sense to remain relatively cheap. Unfortunately, minimum wage laws have disallowed me to reduce my wages even further, to remain competitive in a market with a labor surplus. Continue reading
Posted in Theory
Tagged competition, hourly, Kmart, labor, market, minimum, rate, Unemployment, wage
3 Comments
Minimum Wage Welfare
The minimum wage has not guaranteed the same standard of living throughout the ages. Compared to employees in 1956 and even the 1970s, minimum wage earners make less today. The problem is not that there is too little welfare, it’s that there is too much welfare. The government is running the printing press to afford it, and it is inflating the dollar. Continue reading
The Economic Role of Saving and Capital Goods
Ludwig von Mises on saving, capital goods and investment. Von Mises covers the effects of consumption and unions on the entrepreneur’s ability to invest capital to lengthen and widen the stages of production. He concludes that these interventions lead to greater impoverishment. Continue reading
Posted in Theory
Tagged Capital, capital-goods, entrepeneur, goods, labor, Ludwig, Mises, resources, saving, Unemployment, von
1 Comment
Ownership of Labor
Who owns my labor, if not myself? In his concept of ownership, Karl Marx makes the mistake of not accepting the contract between employee and employer as a transfer of ownership. The employee is selling his labor for a certain wage. Before the labor is sold, though, it seems to me that the individual owns his labor (and thus is the only reason he can legitimately sell it). Continue reading →