Does Government Create Jobs?

"Governments are good at creating work, but they are not good at creating value-generating jobs," is the conclusion from this insightful 3-minute clip from Professor Steve Horwitz. Too often the jobs that politicians 'create' are simply to their own benefit. Critically, Horwitz explains that transitions (from agriculture to manufacturing to service to information for instance) are temporarily painful but relatively quickly re-allocated. If, however, politicians attempt to prevent this transition - to stall the free market's signals - this will halt innovation, growth, and create more poverty (ring any bells). Creating meaningful valuable jobs (something we saw earlier today is not occurring) does not appear too complex - "the best job-creation program in human history is the free market and the entrepreneurship it generates" - it simply means our politicians must get out of the way.

Comments

[Helix6]

And the point of this video was....?

[broken87]

DOES TAKING COCAINE AND TURNING IT INTO CRACK CREATE JOBS?