ludjob wrote: » It is how unregulated productive power progresses; dog eat dog in a mad efficiency race with scant regard for millions being displaced from employment and cast on the scrapheap of dependency and despair.
oscarBravo wrote: » Isn't that basically just the Luddite fallacy?
oscarBravo wrote: » What has suddenly changed, 200 years later?
KyussBishop wrote: » It's quite possible to maintain full employment 100% of the time
Jonny7 wrote: » It's impossible.
ludjob wrote: » Computerisation. Technology has taken us to a new place in economics where we can produce everything in abundance except work. We embrace and enjoy this wonderful world or it will destroy us.
oscarBravo wrote: » And a Luddite would have said: "Industrialisation. Machinery has taken us to a new place in economics where we can produce everything in abundance except work. We embrace and enjoy this wonderful world or it will destroy us." You seem to tacitly accept that they were wrong, but it's precisely the same argument. There are something like seven times as many people employed in the world today as there were when the Luddites predicted that industrialisation would lead to everyone being unemployed. Sorry, but I remain unconvinced.
KyussBishop wrote: » That is an unbacked assertion. I've posted repeatedly and at length on this forum, detailing how unemployed workers can be soaked up into temporary employment programs, when private industry does not want them. You need to present an argument to back your view, not just assert it. Again, economics is all about efficient allocation of resources, and workers/labour are the most important resource in the economy. If you are failing to put all of those workers into employment, you are (by definition almost, when it comes to economics) 'doing it wrong'.
nesf wrote: » It's impossible for the very simple reason that if you eliminate long term unemployment you are still left with some level of frictional unemployment. There will always be around 1% of the labour force between jobs for a few weeks or months even in the boom times over the year. This isn't a problem economically, they're unemployed for so little time that their skills don't degrade etc. You can't push these people into temporary work that fast either, you're talking about a couple of weeks before you'll find suitable work for them to do unless you're planning on having everyone who leaves work to start digging and filling holes in the ground the next day. This would remove frictional employment but, eh, it'd work out more of a drain on the economy than just giving the the dole whilst they job hunt.
KyussBishop wrote: » That's true, but frictional unemployment isn't really something I count against 'full employment' though - certainly there will be some of this, and it's not a problem that really needs solving in my view. At most, I'd consider it (after implementing an 'employer of last resort' position for government) a totally separate problem, which is more of a moderately-sized efficiency issue than anything else (which pales in comparison to the gross inefficiency of current unemployment levels).
KyussBishop wrote: » That is an unbacked assertion.
Jonny7 wrote: » It's not an assertion, it's a fact. 100% employment is not possible There is however economic "full employment" with the unemployment rate at 3% or 4%.
KyussBishop wrote: » I never claimed 100% employment, I claimed full employment 100% of the time, and you have even provided a standard definition of full employment which completely backs my claim, which highlights that the issue you take with what I've said is purely semantic (where you get the definition wrong, and bizzarely end up pointing that out in your own post). You didn't even read the post right before your own, where I've already explained this. It is purely a case of nitpicking, seeing as I've already clarified it multiple times, and where the economic definition (what other definition would I use, when talking about economics?) perfectly fits what I'm saying.
KyussBishop wrote: » Money isn't actually a problem, just the distribution of it - the problem is deciding what kind of work we want people doing in society, and what is beneficial to society - what should be incentivized, and disincentivized.
Valmont wrote: » It's ironic arguing how best to cut up the pie when your solution involves destroying the oven. When you say 'we' you mean the government because 'we' as in every single one us cannot conceivably decide with unanimity on what 'work people should be doing'. Your only option here is to have a totalitarian government telling everyone else what 'we' aka 'you' should be doing. Freedom has no place in your vision of society, KyussBishop, only power.
KyussBishop wrote: » The problem is simple: The private sector does not want these unemployed workers, and nothing you or I do is going to immediately fix that in the present, it will take years.
Valmont wrote: » The private sector does not want many of them at the price set by the government. Abolishing the minimum wage would solve the unemployment problem for many people within a week.
Valmont wrote: » I'm also surprised that you still completely ignore the role played by governments during the financial crisis. It's like if I asked the government for 50 billion and they gave it to me, bankrupting themselves and their tax-payers, and instead of blaming the government for handing over the cash you would exclusively vilify me for asking and receiving. I don't think I need to point out that your system places the government dangerously beyond reproach: another sure road to your totalitarian system of complete state control over the economy. And I'm sure when even this hallowed ground is reached and is invariably a disaster, it will be Emmanuel Goldstein who gets the blame.
KyussBishop wrote: » Nothing to indicate countries without minimum wage are free from unemployment
KyussBishop wrote: » Eh...you know about the Anglo tapes right - these guys were innocently just "asking and receiving" money from government, and are now being unjustly vilified?
ludjob wrote: » There are two great challenges of Economic Philosophy into the future. One is to agree, plan, control, restrain and justly administer the enormous productive power available in the world.