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Unemployment doles can have no other effect than the perpetuation of unemployment.
-Ludwig Von Mises
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Unemployment Doles Can Have No Other Effect

Ludwig Von Mises
Unemployment doles can have no other effect than the perpetuation of unemployment.
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Unemployment Effects

More From Ludwig Von Mises

Generous unemployment benefits can increase both structural and frictional unemployment. so government policies intended to help workers can have the undesirable side effect of raising the natural rate of unemployment.
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I believe that to some degree there are situational and psychological laws of cause-and-effect, but i don't believe there's some Über-soul who doles out "justice."
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All of the progress that the us has made over the last couple of centuries has come from unemployment. it has come from figuring out how to produce more goods with fewer workers, thereby releasing labor to be more productive in other areas. it has never come about through permanent unemployment, but temporary unemployment, in the process of shifting people from one area to another.
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When people who earn more than the average have their 'surplus', or the greater part of it, seized from them in taxes, and when people who earn less than average have the deficiency , or the greater part of it, turned over to them in hand-outs and doles, the production of all must sharply decline; for the energetic and able who lose their incentive to produce more than the average, and the slothful and unskilled lose their incentive to improve their condition.
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No politician can praise unemployment or inflation, and there is no way of combining high employment with stable prices that does not involve some control of income and prices. otherwise the struggle for more consumption and more income to sustain it-a struggle that modern corporations, modern unions and modern democracy all facilitate and encourage-will drive up prices. only heavy unemployment will then temper this upward thrust. not many wish to confront the truth that the modern economy gives a choice only between inflation, unemployment, or controls.
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In the name of compassion, obama advocates seemingly endless extensions of unemployment benefits because his economic theology holds that by paying people not to work, you will create jobs. it not only fails to factor in the obvious deterrent that extended benefits have on their recipients but also falsely assumes that transferring money from one pocket to the next generates more spending - by some mythical multiple factor, no less. back on planet earth, studies reveal that extending unemployment benefits results in more unemployment.
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