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Human Action: A Treatise on Economics Part 1

Mises Audio Books Podcast

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Labor Is the Most Rare of All Primary Means of Production

The potential supply of labor for the performance of each particular kind of work exceeds the actual demand for such labor. The quantity of need satisfaction is, in none of the branches of duction permanently limited by a scarcity of people capable of performing special tasks. Only in the short run can there emerge a dearth of specialists. In the long run, it can be removed by training people who display the innate abilities required. Labor is the most scarce of all primary means of production because it is this restricted sense, non specific.

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