Saturday, March 6, 2010

Quote of the Day

"...when the economy is deeply depressed, extending unemployment benefits not only helps those in need, it also reduces unemployment."

- fake economist Paul Krugman

Rebuttals:

"Unemployment doles can have no other effect than the perpetuation of unemployment."

"Assistance granted to the unemployed does not dispose of unemployment. It makes it easier for the unemployed to remain idle."

- Ludwig von Mises

"...the real causes of our unemployment, such as excessive union wage-rates, minimum wage laws, excessive and prolonged unemployment insurance, and overgenerous relief payments."

- Henry Hazlitt

"...unemployment "insurance" subsidize[s] unemployment and make[s] sure that it will be permanently high. We can have as much unemployment as we pay for."

- Murray Rothbard

"Any subsidization of unemployment (via unemployment 'insurance,' relief, etc.) will prolong unemployment indefinitely, and delay the shift of workers to the fields where jobs are available."

- Murray Rothbard

"For the unemployed to be granted support by the government or by the unions only serves to enlarge the evil. If what is involved is a case of unemployment springing from dynamic changes in the economy, then the unemployment benefits only result in postponing the adjustment of the workers to the new conditions. The jobless worker who is on relief does not consider it necessary to look about for a new occupation if he no longer finds a position in his old one; at least, he allows more time to elapse before he decides to shift to a new occupation or to a new locality or before he reduces the wage rate he demands to that at which he could find work. If unemployment benefits are not set too low, one can say that as long as they are offered, unemployment cannot disappear."

- Ludwig von Mises

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