I think hayek and stranger are talking about when workers get more productive because they get better tools. You are talking about when they work longer hours for the same pay, or goof off less. Which another thing altogether.
Good place to start for a general education in economics is Economics in One Lesson, by Henry Hazlitt.
It’s a short book, free online right here
Therefore, if a employer is more apt to keep a bad in employee in a free market then in a more regulated market you could say that the more unrestrained the market the more humane that market will be. I’m sure that will win me friends tomorrow. You guys are awesome.
Thanks smiling dave. will check it out. Reading Basic Economics by Thomas Sowell now. I have read Jay Richards Money Greed and God, Thomas Dilorenzo How Captailism saved American(thats how I got interested in the first place) and Atlas Shurgged. Any more suggestions please keep them coming.
read John Stossel books also.
200 years ago there were few employment choices you could choose from and the standard of living was way lower than today’s.
Anything, just anything that increases a worker’s productivity creates wealth, new employement, new industries, higher standard of living.
Example: 200 years ago a bigger percentage of the population was devoted to agriculture, the entertaiment industry was limited and vacations like traveling abroad or a remote resort were virtually unheard of.
Today a minimal % of the US population works in agriculture (higher productivity), the entertaiment industry is everywhere, virtually everyone can buy a decent vacation at least once a year.
I wonder what will happen if you actually go ahead and give this BS advise to a real firm?
Productivity and employment are unrelated. There is always something to do be done. It is labour controls that cause unemployment. By unemployment, we mean chronic inability to find work.