I'm linking to this article written by the former "car czar," Steve Rattner:
http://www.washingtonpost.com/opinions/the-right-path-on-jobs-jobs-jobs/2011/01/30/ABqPCME_story.html
He basically says that the current rate of unemployment will actually turn out to be more productive for America in addition to all of the other bull that the US is back on the upswing....
I'm interested to see how other Austrians here think of this but, in my opinion, labor is a resoruce that is actually being wasted. Add in the minimum wage keeping unemployment up and the US is not being as prodcutive as it can actually be as we are just sucking unemployment checks out of our country.
Opinions?
You must not be a worker. You are probably 20 years old, in college (paid for by Mommy and Daddy), and may have done part-time work somewhere once.
Another silver-spoon eating douche touting Austrian economics. MY BRAVE DADDY GOES TO THE PLANTATION EVERY MORNING AND GIVES HIS SLAVES A SHINNY PENNY!!
And what about you? You want to get into a dumb contest of who grew up living in more poverty and worked whenever he could you're not going to win against me.
Stop with all these assertions...personal attacks and strawman claims do not help your case one bit
My Blog: http://www.anarchico.net/
Production is 'anarchistic' - Ludwig von Mises
Well he's just an angry guy. I think its because when people hear about someone that wants to, let's say cut the department of education, they associate that person with hating education. What're ya gonna do ya know?
To reply to the OP tough,
Actors want to achieve more of their wants with the less possible time. So when one makes a machine to increase the amount of Good X compared to 3 people making Good X, then those jobs will decrease. But that just means that people should aim at getting a job else where. There is always going to be work because humans are never completely satisfied..
Jobs are 'means' not 'ends' but regardless, i do not think the unemployment level would be as high as it is right now if people would just let the market work in peace..
"Jobs" / "employment" is a superstition. People are highly susceptible to the broken window fallacy in this regard. Look at Roosevelt's Civilian Conservation Corps... people were starving in the streets while the government was paying farmers to plow crops under... and somehow "putting people to work" clearing trails in the national forests was going to help things. Superstition.
Clayton -
Did you grow up in Columbia? My brave daddy decided he had an especially hard worker. He gave him 2 pennies instead of 1.
Irrelevant.
Ad hominem.
We're more than willing to listen to your criticisms of Austrian economics (believe me, we're used to it) and address them to the best of our abilities.
lol, where do you work, boy?
auctionguy10:lol, where do you work, boy?
In Trollville. Why do you even bother asking?
Because I'm having fun that's all. Hmm but I guess you're right I am ruining the OP's topic.
Fuck you, cake eater. I work two jobs. 70 hours a week. I make a total of about $20,000 a year. I have a one inch gash in my left hand and it will cost me $1,000 to get it looked at. I hope it doesn't get infected. I can't afford to get it looked at. I have trouble making rent sometime. I eat a lot of bland food. Lots of processed crap.
I could use some help, but there are hardly any services around in this area. I will make a $5.00 drink for a customer. It will take me 30 seconds. My employer has decided that he will pay me $.06 for those services. He will keep the $3.46 in profit for himself. I don't like my job, but if I lose it I will surely be evicted. My employer is also a tyrant. So you have to put up with a lot of berating. Really don't have a choice. Work or starve. Sounds like a free agreement?
Education inflation has priced even community college out of my budget. I am happy the Austrians plan to fix all of this, which is give more power to employers and take away any accountability they might have. After all, EMPLOYERS are BENEFACTORS!!! WORKERS are lazy, incompentent thiefs, and UNIONS are the ultimate EVIL!! They must be ruthlessly destroyed. Can't wait for the Industrial Revolution II. Of course, Lew Rockwell, another cake eater, will be getting his hands dirty? Nope, he'll be in academia, along with Walter Block, Gary North, and the rest of the Holy Council of Wise Libertarians.
So you make $5.49 per hour? Are you an illegal alien? Maybe it's just because I live in Boston, but I've never had to work a job below $9/hour (except for waitering, but tips more than made up for it). And those are the low paying jobs in Boston.
Fuck you, cake eater.
I'm persuaded already!
/I work two jobs. 70 hours a week. I make a total of about $20,000 a year.
As another poster asked, are you an illegal? The Federal minimum wage is $7.25, not $5.50. You need to keep up with the times.
I have a one inch gash in my left hand and it will cost me $1,000 to get it looked at. I hope it doesn't get infected. I can't afford to get it looked at. I have trouble making rent sometime. I eat a lot of bland food. Lots of processed crap.
And you're posting at an internet cafe, I assume?
Well, it's not a completely free agreement, you are right, but not because you will starve if you don't work. Your employer enjoys many legal, tax and other regulatory advantages that even he himself is probably not aware he enjoys. He enjoys these benefits because, by employing you and your co-workers, he is helping the government collect taxes on your labor. Let's say your employer employs 10 people. Rather than separately tracking the income of 10 people, the government only needs to tell your boss to track it ... basically on pain of bankruptcy if the IRS were to go after him for tax non-compliance. So, your employ does the dirty work of calculating how many hours you worked, how much you earned, and so on, and passes this information on to the IRS in the form of a W-2 which puts you on the hook to pay taxes on those monies earned. Call it "economy of scale."
Education inflation has priced even community college out of my budget. I am happy the Austrians plan to fix all of this,
Well, by removing government subsidy of college, prices would fall dramatically.
which is give more power to employers and take away any accountability they might have.
Actually, the government is the employer's best friend. Government reduces marketplace competition (ensuring higher profits) and regiments the low-end pay schedule (further reducing competition).
After all, EMPLOYERS are BENEFACTORS!!! WORKERS are lazy, incompentent thiefs, and UNIONS are the ultimate EVIL!!
I think you've confused Austrians with Republicans... which is a bit like confusing a gazelle with an elephant, but hey.
They must be ruthlessly destroyed. Can't wait for the Industrial Revolution II. Of course, Lew Rockwell, another cake eater, will be getting his hands dirty? Nope, he'll be in academia, along with Walter Block, Gary North, and the rest of the Holy Council of Wise Libertarians.
Say hi to the rest of the staff at Daily Kos for me.