We’ve seen what happens when job safety regulations are imposed. Now let’s see what happens when they’re taken away.
a. If a radical free market, antiregulation government comes to power in the land of Pelerania, and it begins dismantling job safety regulations, what will this tend to do to the supply of labor for dangerous jobs in Pelerania: Will it increase or decrease?
b. Will that push wages in dangerous jobs up or down?
c. What will this do to the supply of labor in safer jobs? And to the number of people working in safer jobs?
d. Overall, will employers have to pay for their decision to offer dangerous jobs, or will they have a free lunch handed to them by the new government?