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Title: Low unemployment in some OECD countries Post by: buritobr on September 10, 2019, 07:53:09 PM Some OECD countries have the lowest unemployment rate of the post-1973 period.
Unemployment rate is 3% in Germany and 3.7% in the USA. Few years ago, most of the economists used to say that the non-accelerating inflation rate of unemployment (NAIRU) was around 4%. However, we don't see inflationary pressures in countries which have <4% unemployment rate now. Inflation is low and stable. And the low unemployment show us that the "structural technological unemployment" and the "era of the end of the labor" are myths. Title: Re: Low unemployment in some OECD countries Post by: Southern Senator North Carolina Yankee on September 13, 2019, 02:13:01 AM A lot of the previous rules have come apart in the modern global economy. A large part of this is the shift to the service sector and the reliance on cheap imports for manufactured goods. This means that unemployment can be low and inflation non-existent.
Of course it also means those workers aren't making crap. Title: Re: Low unemployment in some OECD countries Post by: Former President tack50 on September 16, 2019, 10:00:29 AM I've always found the "inflaction is low!" line fairly dumb.
If you wanted to create inflation on purpose, why not just start printing money like Zimbabwe or Venezuela? That's an extremely easy way to drown in inflation. Hell, for a somewhat more serious proposal, just taking Yang's "1000$ for everyone" and funding it through printing money would be more than enough. |