The message of chapter 1, that voluntary transactions create wealth, has longer term benefits when the transactions involve labor. As Reason points out:
"When economist Raj Chetty studied dozens of local factors that correlated with upward mobility, teenage labor force participation proved more powerful than almost any other factor, even high school drop-out rates or violent crime rates," Timothy P. Carney pointed out last week in a Washington Examiner column.
Chetty, a Harvard University economist, is better known for emphasizing the value of social capital—in particular, friendships across class lines—for boosting economic mobility. But his research indicates a strong correlation between teenage participation in the labor force and upward mobility. It's a connection that's been made multiple times in the past.Although teenage labor force participation fell from 59.3% in 1978 to 32.5% in 2014, this year it climbed to 37.5%, partly as a result of less restrictive laws.
Pozdrav svima. Moje ime je Maria Magdalena, samohrana sam majka troje djece, želim podijeliti opipljivo svjedočanstvo o tome kako sam dobila zajam od 10.000 eura uz 3% od bogobojaznog čovjeka, gospodina Mikea Andersona. Ako ste zainteresirani za dobivanje kredita, obratite mu se, uvjeravam vas da je sigurno, hvala. E-mail adresa: (barrmikeanderson48@yahoo.com)
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