Our claim is that in a purely free enterprise system, there can be no such thing as involuntary unemployment, as long as wage demands are in accord with expected productivity, as perceived by the potential employer. Seeming counterexamples are shown to violate one or more of these conditions....

Labor is the most important of the three traditional factors of production (land, labor and capital), accounting for some 75% of the GDP. It is therefore important to focus on issues of labor economics. In this book the approach taken will be that of the free market philosophy of libertarianism,...

Work Sharing seems to be the “in” thing. According to its advocates, unemployment is caused by people working too many hours; if they would just reduce their workweek to, say 32 hours, there would be plenty of jobs to go around for everyone. The latest politician to make this proposal is Bob...

Purpose – The purpose of this paper is to demonstrate that the minimum wage law is deleterious to the unskilled, to the young and to members of minority groups. Design/methodology/approach – The main method used in this paper is the logical application of basic supply and demand economic...

Purpose – The purpose of this paper is to demonstrate that the minimum wage law is deleterious to the unskilled, to the young and to members of minority groups. Design/methodology/approach – The main method used in this paper is the logical application of basic supply and demand economic...