Blog
Zero unemployment - costs and benefits
20th March 2008
Over at About Economics.com Mike Moffatt considers whether a zero rate of unemployment, even if it were attainable, might not be a good thing. He argues that “A positive rate of unemployment is the price we pay for technological development and for people chasing their dreams.” It is a good article for revising three of the main causes of unemployment and for thinking about the possible macroeconomic effects when the poll of surplus labour shrinks to a very low size. My AS revision presentation on unemployment is here and my A2 revision presentations are here: (1) Natural rate (2) Philips Curve and the NAIRU
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.