Walter Block On Unemployment
August 27, 2014
By Luis Rivera III
This is an economic discussion in which economist Walter Block talks about unemployment. He says that when you subsidize anything you get more of it. This is because the supply curve slopes upward. Therefore when the government insures unemployment, the unemployment increases ceteris paribus.
Block also goes over the inaccurate unemployment rates that the governemnt states there is. He doesn’t stop there, he also shows how the minimum wage laws creates unemployment. Profits are only ephemeral. Interest rates are based on the time preference of society as in how much society saves and how much they decide to spend. This and more in this short video:
Dr. Block [send him mail] is a professor of economics at Loyola University New Orleans. He is the author of Defending the Undefendable, The Case for Discrimination, Labor Economics From A Free Market Perspective, Building Blocks for Liberty, Differing Worldviews in Higher Education, and The Privatization of Roads and Highways. His latest book is Yes to Ron Paul and Liberty.
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