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Assignment Submitted
Name of the Student
Name of the University
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Loosely Regulated Markets and Government Regulation

The United States ranks #1 on the Forbes Free Labor Index because it "has no mandated
vacation time and employer-friendly labour laws," which is exactly what I was looking for when
I set out to find the freest labour markets. The minimum wage is much lower than the market
rate. However, despite (or maybe because of) this, millions of people, both talented and
unskilled, migrate to America in search of work and opportunities. A deeper examination of the
Forbes article revealed that the information it offered has become obsolete since it was initially
published in 2003. Millions of people go to the United States for education and career
opportunities for the reasons indicated above in the same article, which is why the country
maintains one of the top ranks internationally. Anybody willing to put in the time and effort may
accomplish their goals and live out "The American Dream" in our land of opportunity and
promise.
If we want to take a global view of open labour markets, we need to grasp the mechanism
underlying those rankings. Three main analytical principles aided in the development of the
index featured in Economic Freedom of the World. There are no subjective factors in the index
ratings, and all of the information utilised to construct them comes from trustworthy outside
sources. Hong Kong has the world's freest economy, with a score of 88.6 on a scale of 0 to 100.
European nations such as France and Italy, which rank towards the bottom owing to tight labour
laws and high unemployment rates, are on the other end of the spectrum.
Being from Tampa Bay has been great the past few years as the city as a whole has
ranked number two in Florida and forty-third best city overall out of 182 that was “made up of
the 150 most populous and at least two of the most populated in each state.” The reasons it was
able to perform so well is a couple of key factors, job opportunities, employment growth, and
unemployment rate are just a few of the reasons.
One of the most significant benefits of a free labour market is that it encourages people
from other countries to come to yours in search of work. This means that when your economy
expands, you will have access to a virtually limitless pool of job prospects. A free labour market
encourages new enterprises to locate in the region by providing them with an edge throughout
the hiring and cost-cutting phases of their operations.
There will always be disadvantages as well as advantages. Businesses may pay their
employees the bare minimum while also directing their schedules, benefits, and vacation time if
there is an excess of labour.
Others argue that legislation should be enacted to protect workers' rights. But, I think that
governments should refrain from interfering with free labour markets since they often wish to
improve worker pay and benefits, which has the unintended result of boosting costs and
diminishing a company's ability to compete on price. The Lord Jesus declared that it is more
wonderful to give than to receive, and I have shown this in all I have done for you. You know,
there are firms who follow this idea and others that are just concerned about generating money.
Just be yourself, and trust in God to provide for your material needs.
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