Posts Tagged ‘Unemployment

Mainstream economics claims that full employment brings inflation, and some unemployment (often called ‘natural’) is inevitable. During bad times, like today, unemployment rises significantly from its ‘natural’ level and bites even more harshly. We at Mecpoc believe that full employment should be the primary target of economic policy. As our chosen topic of exploration, we set out to ask Franklin students for their opinion on unemployment and the implications their major has taught them. Here include extracts of the responses from three Franklin College students: Caitlin Morris (Comparative Literature and Culture Studies major), William Turner (International Relations major), and James Jasper (History major).

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By: Andrea Terzi

Have you ever considered full employment as a means to properly measure the cost of wars? Tolerating unemployment may indeed lead to pro-war sentiments.  Fighting wars requires using resources to produce weapons, feed soldiers, provide transportation. Read the rest of this entry »

By: Andrea Terzi

If you think wars in Iraq and Afghanistan were a gigantic waste of money, chronic unemployment in peacetime may be even worse! War raises output and unemployment is not an efficient allocation of our resources. Read the rest of this entry »