Thinking About Jobs

Cafe Hayek: “People talk of ‘jobs’ as if these are ends in themselves — as if jobs are goods, rather than bads. But jobs are bads — or, more precisely, they’re costs. A job is the necessary effort each of us must put forward in order to acquire purchasing power. (Yes, yes, I know that there are genuine non-economic aspects of jobs. But clearly these aspects are peripheral. If they were central, few people would worry about how much money they’re paid; few people would worry about the effects on wages of increased foreign competition or of changes in technology.)”

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