Progressives seem to think a tight labor market is a good thing because it pressures businesses to pay higher wages. But a labor shortage is bad for the economy, because in order to grow, an economy requires an abundant supply of both capital and labor. A tight labor market contributes to slower economic growth, higher prices, lower production, and inflation. With IPI President Tom Giovanetti, Resident Scholar Dr. Merrill Matthews, and Senior Research Fellow Bartlett Cleland.
2021_10_21 Why a Tight Labor Market Is a Bad Thing