3 ms·
https://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 u
by pydry 3y ago
https://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.