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> In a free market economy, unemployment is a necessity Perhaps a "necessity" in the sense that it's a necessary outcome of a system designed like that. E.g.,
by Florin_Andrei 12y ago
> In a free market economy, unemployment is a necessity
Perhaps a "necessity" in the sense that it's a necessary outcome of a system designed like that.
E.g., you build an engine according to the principles of thermodynamics in this universe, a necessary outcome is wasted heat. The engine would not work if you prohibited the waste; or it would become something else entirely (not a Carnot machine anymore, or whatever).
The trick is to figure out a system where the necessary outcomes are not very undesirable. Pretty hard to do that with the entire human society.
- termain 12y agoI mean it's a necessity in that you need an elastic supply of labor to respond to the market forces that ostensibly drive a free market economy to meet the needs of its participants.