Tuesday, July 03, 2012

Marginal Revolution in full-on troll mode

Yikes:
If you think that the freedom to quit is without value bear in mind that under feudalism and into the early 19th century in the U.S. and a bit later in Britain employers and even potential employers could prevent workers from quitting and from moving. The freedom to quit was hard won. We should not disparage the liberation brought by a free market in labor.
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A job is an exchange with mutual consent and benefits on both sides of the bargain. The freedom is in the right to exchange not in the price at which the exchange occurs. A worker who is paid for 8 hours of work is not a serf 1/3rd of the day. We all sell our labor and we would all like to sell at a higher price but that does not make any of us serfs. From the minimum wage waiter to the highly-paid sports superstar there is dignity in work freely chosen.

To understand freedom and true coercion let us remember that American workers have the freedom to bargain and exchange with American employers, a freedom that gun, barbed wire and electrified fence deny to many millions of less fortunate workers from around the world.
Yes, feudalism and current immigration policy are bad. Your point? Though, it is worth pointing out that both this post and Cowen's response before really harp on the quantitative trade-off dimension (i.e. that workers bargain for both wage and working conditions). The post they're criticizing takes a much more qualitative approach based on freedoms and rights; it does lead one to wonder whether ceding the quantitative ground (i.e. the position that employment contracts are bargained on a level field) is a good idea. Though it's probably these 2 economists' faults for not recognizing immediately that working conditions are often public goods.

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