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by snarfybarfy 2851 days ago
Which market value of labor are you speaking of?

This seems to be a common fallacy, because people call it the 'labor market'. However I would claim that there is no labor market in the classical econ 101 sense.

A market needs to be transparent, have low transaction costs, be voluntary and have a sufficient number of buyers and sellers.

Otherwise you might still call it a market but it will not have any magical properties that the government shouldn't mess with.

1 comments

Which of those isn't present in the labor market?
Being voluntary.

For the most part, having a job is a requirement to have a place to live and eat.