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Friday, June 03, 2005

Free Markets and Labor, er Labour, Exploitation, Take 2

chris dillow has a post on the same topic as my article for The Free Liberal - and comes to the same conclusion. His reasons are very similar to mine, and his discussion of Hayek's views is informative and interesting. dillow's conclusion:

I suspect that a basic income is not only consistent with reasonable libertarianism, but actually necessary for it. In increasing people's bargaining power, such an income can replace minimum wage laws, working time directives and other regulations.

In this sense, equality doesn't undermine a free market - it actively promotes it.

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