What economic outcome does Blanc predict resulting from "...the reign of free competition..."? A. overabundance of cheap imports

B. inferior goods flooding the domestic market

C. continuous decline of wages

D. market preference of hiring cheap unskilled workers

E. monetary inflation

C. continuous decline of wage

Explanation:

In his work titled "Organization of Labor"  published in 1840, Louis Blanc wrote and I quote; "Who would be blind enough not to see that under the reign of free competition the continuous decline of wages necessarily becomes a general law with no exception whatsoever?"

Hence according to the economic theory of Louis Blanc, the reign of free competition leads to the decline of wages.

In the submission of Louis Blank "The government ought to be considered as the supreme regulator of production and endowed for this duty with great power. This task would consist of fighting competition and of finally overcoming it.  The government ought to float a loan with the proceeds of which it should erect social workshops in the most important branches of national industry."

Full text of Louis  Blanc's "Organization of Labor" (1840) was obtained from Internet History Sourcebooks of Fordham University.

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