March 24, 2014
Phyllis Hunsinger is the president and founding member of the Freedom and Responsibility Education Enterprise (FREE Foundation) headquartered in Grand Junction, Colorado. FREE Foundation is a 501C(3) non-profit organization dedicated to funding the education of teachers and students in Free Market Economics.
Thoughts on a free market economy…
“Jobs and Production”
By Phyllis Hunsinger
Originally published February 1, 2014
Every single day across America in newspapers, television broadcasts, internet stories, and in speeches by political candidates and the political class, there is some discussion of the rising numbers of unemployed citizens and the need for job creation. Currently there are more people unemployed or under-employed than ever before in the history of our nation. There is a hue and outcry for extended unemployment benefits and other government interventions. Will this really fix the problem? Will this action increase the number of available jobs?
In an article written by Martin Fridson in June, 2013, “Who are the Real Job Creators,” he stated: “True economic growth consists of a rise in the economy’s potential output. An increase in potential output, and by extension, bona fide job creation springs from two sources: (1) Population growth, which raises aggregate demand; and (2) Increased productivity.”
The economy of a country is not a fixed entity. The United States enjoys a high standard of living because of the economic history of growing the economy. Without production there is no growth. Writing for the Heritage Foundation, Leslie Carbone and Jay W. Richards state, “The economy grows when individuals and businesses succeed in recognizing new markets and new opportunities in the hope of earning income.”
If jobs are created as a result of increased demand and productivity, a better plan of action would be to identify and remove burdensome regulations and to develop incentives to help individuals and businesses succeed in new markets and new opportunities, thus creating new jobs. This action would not only be a hand-up instead of a hand-out, it would provide the dignity that accompanies an employed individual.
https://www.free-dom.us.com, Phyllis Hunsinger, © 2014, All Rights Reserved
Reposted with permission by Reagangirl.com 3/24/14