What Drives Higher Unemployment?
In an unhampered free-market system, the Ricardo effect is benign and progressive. It is just an interesting observation.
In an unhampered free-market system, the Ricardo effect is benign and progressive. It is just an interesting observation.
After decades of strict laws regulating when stores can open and close in Germany, the laws are progressively liberalizing.
The Roosevelt administration proposed and Congress enacted an unparalleled outpouring of laws that significantly attenuated private-property rights.
The deficit-hawk politicians are right when they say the government should be sharing in the belt-tightening along with everyone else. Slashing spending at the federal level would return much-needed resources to the private sector, where they would do the most good.
The increasing concentration on short-run effects is not only as a serious and dangerous intellectual error; it is a betrayal of the main duty of the economist and a grave menace to our civilization.
Here we have clearly the interest of labor put before the interest of consumers.
The Mises Circle in Indianapolis. Sponsored by Weaver Popcorn Company. Recorded 14 May 2011.