The State is not responsible for rescuing her from bankruptcy or covering her traffic liabilities. In complex realms like law and medicine, it is difficult for consumers to judge the quality level of competing service providers, and thereby make an informed choice. Some degree of government oversight and regulation is necessary to ensure ethical business practices. Employ a full-time staff of trained advisers , who provide free guidance to help consumers make informed choices. Also, firms are unwilling to hire older employees, whose benefits cost the same as those of a younger employee, but who provide less years of productive labour in return.
Employers are unwilling to negotiate shorter work-weeks for similar reasons.
Conflict between unions and management often erupts over issues surrounding benefit packages. The resulting increase in labour market liquidity will improve the efficiency of the whole economy. Reproduction of this document, in whole or in part, is permitted and encouraged, as long as the original document and author are clearly identified via appropriate citation. Please contact the original author prior to any professional use or redistribution. The views expressed in this web site are exclusively those of the author, and do not reflect the views or the University of Toronto or the Department of Mathematics.