From Critiques Of Libertarianism
Libertarians have no solution to unemployment beyond discredited trickle-down theories.
- Good Jobs versus Bad Jobs [More...]
- Minimum wages and unemployment benefits shift the composition of employ- ment toward high-wage jobs. Because the composition of jobs in the laissez-faire equilibrium is inefficiently biased toward low-wage jobs, these labor market regulations increase average labor productivity and may improve welfare.
- Minimum Wage (23 links)
- Contrary to Economics 101 dogmas, minimum wage law has no harmful effects on employment according to many real-world studies. And definitely not the harmful effects long claimed by its opponents. Minimum wage does effectively reduce poverty.
- Private charity can't replace government social programs [More...]
- To suggest that community or faith-based charities can effectively supplant government social programs is a fantasy that serves only as a talking point to cut those programs.
- The Voluntarism Fantasy [More...]
- Libertarian stories of 19th century voluntary charity ignore the historical facts of how horribly insufficient that system was and how much it was supplemented by state and federal aid. The Great Depression destroyed most voluntary charity, and brought about progressive social insurance programs.
The funny thing is that whenever sensible policies produce episodes of full employment, as in the late 1990s, the long postwar boom, or the World War II economy, the supposedly feckless poor get decent jobs and their incomes go up.
Robert Kuttner, "David Brooks's Worst Column Ever"