Labor and Wages

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.

Countries with the highest levels of robotization have the lowest unemployment rates.

Alongside the struc­ture of traditional unionism, there begins to grow in its shadow a murky pseudo-unionism of criminal behavior.

The division of labor is what made the West rich and has kept it rich. It's telling that Marx planned to abolish the division of labor altogether.

So impressive is compensation in the U.S. that even fast food businesses are bidding up wages to compete.

If Sanders's job-guarantee program were adopted, the only silver lining to the dark cloud is that it would provide additional evidence that government programs don’t work.