2min chapter

Ones and Tooze cover image

Why Low Unemployment Isn’t Better News

Ones and Tooze

CHAPTER

Is Low Unemployment a Problem in a Market Economy?

Theory of low unemployment could itself be an economic problem. But has any politician ever made that case? It's very difficult to see how a political in a democracy could openly advocate higher unemployment. The only people that you'll find in policy discourse who explicit, more or less explicitly, articulate a preference for a slightly higher level of unemployment will be central bankers.

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