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What's Killing the Jobs Market?

- Lew Rockwell -

It is hard to know where to begin to respond to your comment Recusant. You do not seem to understand how markets work. So, I'll throw out some points in no particular order.
* All the examples you gave of capitalist vices happened with massive government oversight and regulation. And in some cases, outright cooperation, as in the case of Obamacare which removed the need of corporations to have to sell their product (health insurance) they got the government to mandate it for them.
* The natural tendency of free markets leads to the Boom-Bust cycle, a.k.a. The Business Cycle. As noted in the article, it is the small new startups that hire during the bust phase. With central planning and government regulation, startups don't get off the ground. So, instead of low wages, you get no wages. How's that balance out?
* Eliminating regulations does not lead to chaos. In a free market, everyone decides what is best for themselves, so the free market is "run" by the sum total of those who participate, that is a lot of brain power. In a central planned economy, a small group makes all the decisions for everybody (like it or lump it).

Commented 2551 days ago

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Beginning of the headline :The terrible job market has vexed an entire generation. It shows no hope of improving anytime soon. Young people are shut out. College students are taking refuge in matriculation without end. Thirty-somethings are zoning out in their parents' basements and attics. Despair for the future has become a theme of American public life. The question we must ask is: why is unemployment stuck at 10% in the narrowest measure and as high as 30% for some demographics? ... Read More

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