Mises Daily
Author:
Joseph T. Salerno
Online Publish Date:
as a long-term mass phenomenon, is the consequence of the labor union policy of driving wage rates up. Without unemployment relief, this policy would have recent paper, “ What—or Who—Started the Great Depression ,” argues that Hoover’s policies of propping up wages and encouraging work sharing “was the single most those of Hoover, that increased labor’s ability to raise wages above their competitive levels. The Depression would have been much less severe in the absence of