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Originally Posted by BigBen931
But I am curious when you use the term "Restricts Labour"... Are you an endentured servant? Are you incarcerated? You state that the labour market is restricted because the new employees must join the union on the acceptance of a job. Are they not allowing you to work there in the first place? That would be an externality, alas.
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I never stated that the labor market is restricted because new employees must join the union on the acceptance of a job.
My post was referring to the fact that capital can move trans-/multi-nationally whereas labor can not due to immigration/emmigration constraints.
This issue is further complicated by import/export regulations.
So what we have are powerful corporatins that can move production at will, yet they have powerful voices/influence in politics resulting in curtailed mobility of labor as well as consumers.
Where is the "invisible hand" in this context?