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Why Is It Impossible to Make Everyone Better Off in the Long

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Why is it impossible to make everyone better off in the long run by imposing import restrictions?


Definitions:

Scheduled Hours Pay

Compensation for employees based on the hours they are scheduled to work, potentially including pay for unworked hours due to a minimum notice period for schedule changes.

Guaranteed Hours Pay

A compensation system where employees are assured a minimum number of paid hours, even if they work less than this minimum in a given period.

Union Contracts

Legal agreements between labor unions and employers that outline wages, benefits, working conditions, and other employment terms.

Discharged

The act of formally releasing someone from employment, often implying termination for cause.

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