Shorter Richard Epstein:
Programs and policies such as unemployment insurance, minimum wage laws, collective bargaining, anti-discrimination laws, healthcare mandates, overtime laws, and family leave policies are totally preventing the job creators from creating a workers paradise.
Actual Epstein quote:
If [job] program participants do get jobs, they rarely lead to long-term employment. Another baleful consequence of the minimum wage is that it inhibits the job-training programs that employers give to their own prospective employees. It makes good economic sense for workers to accept a reduced wage, or even no wage, during a period in which they are in training for jobs that the employer will eventually offer. In these situations, the mismatch between training and placement is negligible relative to that of a government-training program, which necessarily lacks the tight connection between today’s training and tomorrow’s labor.
It was only a matter of time before our Galtian Overlords latched onto this idea.
Previous Epstein oligarch ball-sucking.