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What We Can Learn from Margaret Thatcher

Margaret Thatcher has her place in world as well as British history.

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Out of Work: Is Government the Major Cause of Unemployment?

(Archived document, may contain errors) Out of Work: Is Government The Major Cause of Unemployment?

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News - The Political Paternalists Take Aim at Milton Friedman

News - The Political Paternalists Take Aim at Milton Friedman
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Why Keynes Was Wrong About Unemployment

Why Keynes Was Wrong about Unemployment
Large-scale unemployment is another name for a surplus in the labor market. Equilibrium is a state which markets will naturally move toward as buyers and sellers look for mutually advantageous exchanges. Firms can always get some value from additional labor, even under pessimistic forecasts of sale prices and quantities. Workers earning zero wages can improve their situation by accepting a job—even if they do not accept the first offer. Therefore, a labor market in surplus will absorb unemployed labor at a lower wage. When a market is in surplus, the direction the price must go toward equilibrium is down.

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News - The Labor Shortage Is a Government-Contrived Scarcity

News - The Labor Shortage Is a Government-Contrived Scarcity
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