Give American businesses an incentive to cut back workers’ hours to fewer than 30 per week, and guess what happens? You don’t have to guess, if you watch an NBC News report highlighted at The Right Scoop website.
NBC News contacted around 20 small businesses and other entities for this report and found that employee hours are being cut to 29 hours because of Obamacare, despite the delay of the employer mandate. But the White House, NBC News reports, says that there is no systematic evidence that this is because of Obamacare and dismisses the report as anecdotal.
Problems like this one could be avoided if more people in positions of power learned the “one lesson” in Henry Hazlitt’s famous book.
The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.