By himself an
individual cannot exist much above subsistence level, if he can even manage
that. However, larger groups who engage in peaceful cooperation develop a
division of labor which allows each individual to specialize according to his
comparative advantage, accumulate capital, and provide individuals in the group
with goods and services that would be impossible for them to produce in a state
of autarky……..
What
unemployment we observe falls into two categories.
There is
willing unemployment as men eschew lower paying and/or distasteful (to them)
jobs in the hope of landing one that pays more and/or meets their personal
career objectives.
Then there are
those who are unemployed due to barriers that exist that prevent them from
working. My earlier essay Declare Detroit
a Free City revealed that the cause of Detroit’s problems is a lack
of economic liberty, the most important being barriers to peaceful and
cooperative employment. The first step in liberating Detroit from its chains is
to allow people to work.
The greatest
of these barriers to work are the myriad and complex laws that interfere in the
ability for labor and capital to arrive at mutually agreeable terms of
employment…..To Read More….
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