No one wants to be involuntarily released from their employment, but in a growing economy, layoffs represent the redeployment of human capital from less-productive to more-productive uses. With this understanding, policymakers should make it as easy as possible for people to change jobs and forms of income generation. Any policy that makes it harder to change jobs, start a business, or work a “gig economy” job creates friction slowing down the most efficient deployment of human capital. With IPI President Tom Giovanetti and Resident Scholar Dr. Merrill Matthews.
2023_01_26_Layoffs_Economy