“It is telling that the concept of unemployment did not really exist as an economic term before the twentieth century. In a free market, people choose whether or not to work for the wage offered to them, so nobody can be involuntarily unemployed. With the introduction of monetary inflationism and minimum wage laws, a permanently unemployed part of the population became a fixture of modern economies, and blaming this unemployment on the market process became a fixture of the pseudoscientific economics dominant in modern academia, financed by those with vested interests in maintaining inflation in order to provide rationales for it.”

Basic Economics by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak