Labor, Unemployment, and Interventionism | Walter Block

Archived from the live Mises.tv broadcast, this lecture by Walter Block was presented at the 2011 Mises University in Auburn, Alabama. Includes an introduction by Mark Thornton.

[@Keimh3regPeh2uMeg]

22:28 Walter Block the Olympian!

[@SpookyFan]

Walter explains things very well.

[@grymr34per]

The argument that women typically make less than men on average due in part to psychological factors such as assertiveness is pretty solidly backed up by evidence. The examples of Oprah, lady Gaga etc are purely anecdotal. Apart from this, fantastic lecture from the legend Walter Block.

[@RD-mm5fk]

I agree he is wrong when he says the assertiveness theory is silly. Obviously a person cannot negotiate his wages to be higher than his MRP but a person can certainly get his wages closer to his MRP by being more assertive in his negotiations with his employer. I personally have negotiated a higher wage than some of my co-workers with the same job title and more seniority in the company, simply because I demanded a higher wage and they did not.

[@grymr34per]

@Federico Giuliano wtf are you talking about, I'm an old ancap and voluntarist, following Walter et al for decades. Are you replying to the wrong comment?

[@grymr34per]

@@RD-mm5fk right, I agree

[@mdwharton2]

Also there are lawsuits for firing people in some situations and other barriers to letting employees go, which puts up barriers to hiring employees and taking a risk.

[@KeeganIdler]

I disagree on one point. The main reason why the minimum wage would still be bad for workers even if it increased overall revenue, is because the money buys less. People can only consume what is produced. If only 80% of people are working, there are less goods to buy. A dollar is not a constant value.

[@Leofus1986]

Walter Block: THA BAUS!!!

[@bartvanderhaegen6073]

Why do the wages go up to the marginal revenue product ? they should only get up to the marginal net gain from the extra labour ? And that is marginal revenue minus marginal direct costs (like raw materials) from employing the extra labour ?

[@mattlm64]

@72strand Joking I assume?

[@BillyJoeSchmuckMuckr]

Block is always awesome.

[@EsCurve]

¡ yes you can you can make educated guesses at long term cost curves?

[@RD-mm5fk]

I think he is wrong when he says the assertiveness theory is silly. Obviously a person cannot negotiate his wages to be higher than his MRP but a person can certainly get his wages closer to his MRP by being more assertive in his negotiations with his employer. I personally have negotiated a higher wage than some of my co-workers with the same job title and more seniority in the company, simply because I demanded it and they did not.

[@72strand]

Yes, spelling is totally related to economic theory. I'm sure of it. And that was sarcasm. What do you mean by "yo"? And i want your replay in Swedish and no spelling mistakes, please.

[@TheGerogero]

Austrians would do well to have a response to the meme that increases in wages are not keeping up with increases in productivity.

[@VitaSineLibertatenih]

@72strand Who gets to decide what jobs are productive and what jobs are not? If i want to hire a man, who would guard my house dressed in Belarusian folk cloth and he would agree on the price, that is below the minimum wage, how would it be unproductive? I am willing to give a portion of what a earn for a service i consider productive. Who the hell you are to tell me what is productive and what is not for MY money?

[@davedavis4705]

I am now more thoroughly than ever a distributist

[@ShaneCameron9]

The people's republic of Ann Arbor. Amazing The marginal revenue of Ann Arbor is nothing. HAH

[@braddockakalatis2]

You should google that word to see how to spell it.

[@braddockakalatis2]

Yo means your in ebonics. No speako Swedish.

[@panhead55]

HA, you mean his grammer? lol

[@72strand]

Minimum wage is good. Because you get rid of jobs that is unproductive., Jobs that does not have high productive. Elevator jobs is total stupid. Thats why you dont have them The drawings is awfully done to.

[@Tenebrousable]

The job was productive before minimum wage made it not. Even the elevator job. We know because the wage was voluntarily paid. You are not the arbiter of what's productive, the market is.