Understanding the Dollar Crisis by Percy L. Greaves Jr

Author:Percy L. Greaves, Jr. [Percy L. Greaves, Jr.]
Language: eng
Format: epub
ISBN: 978-1-61016-103-9
Publisher: Western Islands
Published: 1973-11-06T16:00:00+00:00

Unemployment in a Free Society

Q. Can there be unemployment in a free market economy?

A. There can be unemployment of everyone who wants to be unemployed. But everyone who wants to work can find a job at a wage that somebody else is willing to pay. Now, we all think that we are worth more than other people think we are worth. But in this world we have to be satisfied with the judgment of others, and in a free market society we can always get that. As I mentioned earlier, there are many natural resources in this world that are not occupied or used because of the scarcity of labor; so labor, being scarce, is always in demand at a price close to the market value of its productivity.

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