Gustaf
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« on: January 28, 2012, 10:37:16 AM » |
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Unemployment is a bit complex. In the basic theory it exists because the marginal productivity is lower than the marginal cost of an additional worker, due to, say, minimum wages.
In theory that could be adressed by increasing productivity rather than decreasing wages (which is why the sensible left typically argues for things like education investments, etc).
But there's a lot more to the story as well.
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