Archive for the ‘civilization’ Category

The progress of a civilization has meant the reduction of employment, not its increase

October 18, 2007

The progress of a civilization has meant the reduction of employment, not its increase.

It is because we have become increasingly wealthy as a nation that we have been able virtually to eliminate child labor, to remove the necessity of work for many of the aged and to make it unnecessary for millions of women to take jobs.

Politicians are always asking, “How do we legislate to have Full Employment in the next ten years?”  Wrong question.  The real question is not how many millions of jobs will there will be ten years from now, but how much shall we produce, and what, in consequence, will be our standard of living?  The problem of distribution, on which all the stress is being put today, is after all more easily solved the more there is to distribute.

Focus on maximizing production; employment will follow.

Economics in One Lesson by Henry Hazlitt