Labor and Wages

We should stop asking if workers deserve a “living wage” and start asking if the minimum wage actually helps workers obtain one.

Business owners understand that the key to prosperity is to reduce costs and deliver more goods to the customer. Wage workers, however, often want higher prices in order to "protect" their jobs.

Recorded at Mises University 2018.

The US military has long acted as a jobs program, for both citizens and non-citizens alike. It's time to cut it all back. 

Profit-oriented business organizations that demand political conformity in the workplace are mimicking government agencies, and we must turn to Mises's book Bureaucracy for guidance.

The salaries of pro athletes has little to do with athleticism and everything to do with the entertainment the public receives from them.

Here are the fateful words that set the stage for years of high unemployment: “We believe in the principle of high wages.”

Price controls, tariffs, and wage controls are politically attractive as such powers are to a ruling clique, but they make no sense economically.

With tariffs, favored industries receive more and the entrepreneurs receive less, lowering their profits and making them less likely to take future risks.