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By that definition, only slavery is a problem and everything else is merely a choice.

Maybe we can eventually make language a complete impediment to understanding. -Hobbes
by Izzy (izzy at eurotrib dot com) on Wed Jan 25th, 2006 at 02:41:19 PM EST
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That's called the Chicago School of Economics.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Wed Jan 25th, 2006 at 02:49:10 PM EST
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No, the Chicago School maintains in its models that involuntary unemployment is logically impossible, which, as anyone who lived through the depression can tell you, is bullshit.  What separates the two is that, during the depression, investment had collapsed and companies were not willing to hire.  Involuntary unemployment occurs in this sort of scenario, as it does, to a lesser extent, during recessions.  It's the difference between there being no job vacancies and there being low-paying vacancies that some workers are not willing to take.  It's a distinction that, I think, must be made.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Wed Jan 25th, 2006 at 02:59:35 PM EST
[ Parent ]
But then if Walmart decides to leave, what? This Flint, Michigan but starting from a lower point?

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Wed Jan 25th, 2006 at 03:01:46 PM EST
[ Parent ]
If Wal-Mart leaves, it will mean more unemployment and, at best, even lower wages.

Be nice to America. Or we'll bring democracy to your country.
by Drew J Jones (pedobear@pennstatefootball.com) on Wed Jan 25th, 2006 at 03:15:23 PM EST
[ Parent ]
But that is not very different from mining company towns or Flint, Michigan. Specialization of the local economy leading to inability to weather changes in the conditions.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Wed Jan 25th, 2006 at 04:54:36 PM EST
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What!?  This is bordering on outlandish.  I took econ courses at the U of C.  What are you talking about on Izzy's slavery comment is the U of C economics thinking?
by wchurchill on Wed Jan 25th, 2006 at 07:30:28 PM EST
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