To maximize economic growth we should encourage job destruction and not job protection and ‘jobism’
In a 1992 WSJ op-ed (“Help the Economy: Destroy Some Jobs”) featured previously on CD here and here, economist Richard McKenzie criticized the misguided obsession with what he referred to as “jobism” — the modern public-policy philosophy that mistakenly focuses on of the number of jobs as being the “key measure of a country’s economic success or failure.” It’s an excellent and overlooked view of the economy and labor market, and worth reposting again.
Here are some a key excerpt of Professor McKenzie’s op-ed (emphasis added):
Economic progress and job destruction go hand in hand. Jobs are destroyed when a better mousetrap or computer program is developed or when work is made obsolete by
To maximize economic growth we should encourage job destruction and not job protection and ‘jobism’ – Publications – AEI2 days ago