Quote:
Originally Posted by BYU71
That's another argument. Maybe high unemployment is really good for the masses, because it indicates the government is more concerned about a fair distribution of wealth than the economy. It didn't work for the Russian communists, maybe it is for the Chinese.
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THat's not what I mean. Full employment is an UE rate of something like 4.5% to 5.5% becaseu we will never have 0% UE as some UE is built in to the economy. I was just wondering if the amount of such structural UE is affected by the social welfare state systems. IOW, maybe a higher rate is Full Employment for them. I have no idea, just musing.