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January 14, 2009

A simple answer to full employment

This story comes from a post titled Making Work, Destroying Wealth at cato-at-liberty.org.

I am reminded of a story that a businessman told me a few years ago. While touring China, he came upon a team of nearly 100 workers building an earthen dam with shovels. The businessman commented to a local official that, with an earth-moving machine, a single worker could create the dam in an afternoon. The official’s curious response was, “Yes, but think of all the unemployment that would create.” “Oh,” said the businessman, “I thought you were building a dam. If it’s jobs you want to create, then take away their shovels and give them spoons!”

Posted by joke du jour at January 14, 2009 08:31 PM

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