“If government wishes to alleviate, rather than aggravate, a depression, its only valid course is laissez-faire-to leave the economy alone. Only if there is no interference, direct or threatened, with prices, wage rates, and business liquidation will the necessary adjustment proceed with smooth dispatch. Any propping up of shaky positions postpones liquidation and aggravates unsound conditions. Propping up wage rates creates mass unemployment, and bolstering prices perpetuates and creates unsold surpluses.” – Murray Rothbard
The best thing government can do to reduce unemployment is get out of the way. This means repeal all minimum wage laws and salary caps. In addition, we must drastically reduce the regulatory burden placed on small business owners and manufacturing, and create a business friendly atmosphere where investors are no longer afraid to start up new companies. If elected, I would start serious discussions on repealing several departments and agencies that serve as roadblocks to the entrepreneur. In a time where communication is instantaneous and information is available at your fingertips, regulatory agencies that have traditionally been monopolized by the government can now be more efficiently and effectively handled by the private sector. Government institutions are riddled with fraud, waste, and abuse. The profit motive would demand that private regulatory agencies provide top-notch service or risk going out of business. Unemployment insurance and welfare reforms are two other areas that warrant serious consideration and conversation.