What if we intentionally shrank the labor pool?

My idea is to spread a theory that a population reducing its need for income would create a need for workers in the society. It would in essence try to recreate a labor shortage. The money and bills targeted would be the most wasteful costs (and traditions) that produce the fewest jobs, and it would support the creation of efficient social systems to meet people's needs. The people, working half as many hours, would be scarce and worth more. Is this even a valid argument to make in a modern capitalist labor market (in the U.S.)? By that I mean, have we come too far from being scarce to have an effect? Also, does this theory have a name?

Showing 1 reaction

How would you tag this suggestion?
Please check your e-mail for a link to activate your account.
  • Wade Gruber
    published this page in Ask Prof. Wolff 2017-08-16 18:37:22 -0400