What's Wrong with the Jobs Market?
by Llewellyn H. Rockwell, Jr. sub-topic» Business Cycles
Businesses thrive in an environment of freedom. But enterprise is no longer free in any area. In boom times, the consequences are less obvious. In the bust, the regulatory thicket, the taxes and mandates, and the legislative threats all become decisive in a way they were not before.
None of these problems are intrinsic to the business cycle. They are all imposed by government. The same problem afflicted the economy during the Great Depression, but back then the central planning was newly imposed. Now is different: the old central planning is killing us day by day, even without dramatic new legislation.