For lawyers it handsomely enriches those who promote and litigate this legislation. For the businessman and the economy it means added costs in employing people and managing them effectively. This is a sure way to undermine job security and prosperity. This Bill dramatically increases government control over the economy at a moment in time when the world has discovered that such centralized control diminishes economic growth and public welfare. In developed countries centrally planned labour markets, mainly continental Western Europe, have substantially higher unemployment rates than more market-directed less rigid labour markets such as the United States, Japan and New Zealand after its reform program of 1984.
Corruption feeds and grows on government regulations and control.
Furthermore, it diminishes and in time stops economic growth. That's the evidence. That is the reality of politics. There are two reasons - Organized labour is being squeezed by the country's need to shed inefficient government enterprises and its inability to promote militant trade unionism in the private sector. The Institute for Economic Freedom, all rights reserved.