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Ep. 2350 Economics for Normal People

The Tom Woods Show

00:00

The Difference Between Unemployment on a Free Market and Unemployment Under Statism

You take a position that's a little bit controversial even among Austrians, but I'm not sure how fully Austrian the Austrians involved are. What do you actually mean by that? And what would be the difference between unemployment on a free market and unemployment under statism? The two main ways in which unemployment is created are monetary policy and minimum wage loss. Those two things are what produce unemployment free realistically because we live in a world in which prices are constantly declining.

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