
Edward Glaeser on Joblessness and the War on Work
EconTalk
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What's the Difference Between Joblessness and Unemployment?
Q. Explain the difference between joblessness and unemployment, technically. A. I'd like we'll get back into this issue of meaning in life. N employment's really low. So maybe those who are not in the labor force have a higher reservation wage,. Maybe they'd require a larger wage to get them out of jobless ness. But all this group is fundamentally lacking employment.
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