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Zero unemployment - costs and benefits

Geoff Riley

20th March 2008

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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

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Geoff Riley

Geoff Riley FRSA has been teaching Economics for nearly forty 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 and Revision conferences in the UK and overseas.

@tutor2uGeoff

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