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The only system that can ever have literally 0% unemployment is slavery. If humans have choice, some will always choose to quit their jobs on any given day. S
by jlawson 3y ago
The only system that can ever have literally 0% unemployment is slavery.
If humans have choice, some will always choose to quit their jobs on any given day.
So the situation you're describing is nonsensical; it's incoherent to try to extrapolate what it would mean because the premises are incoherent.
- deleted 3y ago[deleted]
- pydry 3y agohttps://en.m.wikipedia.org/wiki/Full_employment https://en.m.wikipedia.org/wiki/Full_employment This explains it better. Milton Friedman's "natural rate" of unemployment is basically "the rate capitalists are gunning for" in an attempt to suppress wages. Quite a bit below full.
- astine 3y agoI don't see anything in that link about increasing unemployment in order "suppress wages". Milton Friedman's comments are about monetary policy. Unemployment can be decreased by increasing inflation, but Friedman thinks thats a bad idea. He not arguing that anyone should "gun" for that unemployment rate, but rather that it should be accepted as the "natural" result of an elastic market.