The Grave Evil of Unemployment, Bryan Caplan | EconLog | Library of Economics and Liberty<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Bryan Caplan makes the case for a fresh approach from free-market economists: At the level of high theory, free-market economists love market-clearing models. If there’s surplus wheat, the price of wheat will fall to clear the market. If there’s surplus labor, similarly, the wage will fall to eliminate unemployment. What about nominal wage rigidity? Most … <\/p>\n
Continue reading “The Grave Evil of Unemployment, Bryan Caplan | EconLog | Library of Economics and Liberty”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,5],"tags":[1601,2053,2321,2470,3531,3539],"class_list":["post-7548","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-economy","tag-government-intervention","tag-labor-markets","tag-minimum-wage","tag-ngdp-targeting","tag-unemployment","tag-unions"],"yoast_head":"\nThe Grave Evil of Unemployment, Bryan Caplan | EconLog | Library of Economics and Liberty - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Grave Evil of Unemployment, Bryan Caplan | EconLog | Library of Economics and Liberty - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Bryan Caplan makes the case for a fresh approach from free-market economists: At the level of high theory, free-market economists love market-clearing models. 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Job gains seem to be tapering in 2017, with February highest at 232 thousand, but this could also be a sign of tightening labor conditions. Comments from respondents in yesterday's ISM report showed hints\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42365,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/06\/01\/no-free-lunches-with-a-tight-labor-market\/","url_meta":{"origin":7548,"position":1},"title":"No free lunches with a tight labor market","author":"Colin Twiggs","date":"June 1, 2023","format":false,"excerpt":"US job openings for April ticked up to 10.1 million, from 9.7 million in March. The gap above unemployment also widened -- by half a million, from 3.9 million in March to 4.4 million in April. Unemployment (3.4%) is at the lowest level in seventy years. The tight labor market\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Job Openings & Unemployment","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-05-31-jolts-u3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":57188,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/09\/03\/australia-unemployment-set-to-rise\/","url_meta":{"origin":7548,"position":2},"title":"Australia: Unemployment set to rise","author":"Colin Twiggs","date":"September 3, 2024","format":false,"excerpt":"Australia faces a weakening jobs market in the medium term while falling real capital expenditure per employee warns of declining long-term growth. The DEWR\u2019s Leading Indicator of Employment [red below] last peaked in March 2022. Actual cyclical employment follows with a sixteen-month lag, commencing in July 2023. The Indicator\u2019s downtrend\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Employment Leading Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-02-aus-employment-leading.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-02-aus-employment-leading.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-02-aus-employment-leading.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":36545,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/08\/19\/aussie-jobs-report\/","url_meta":{"origin":7548,"position":3},"title":"Aussie jobs report","author":"Colin Twiggs","date":"August 19, 2022","format":false,"excerpt":"The Australian Bureau of Statistics (ABS) released labor market data for July, which shows that Australia lost 40,900 jobs (-0.3%) over the month, compared to an expected 25,000 gain. Hours worked fell by 16 million (-0.8%) in July, suggesting a decline in real GDP. Surprisingly, unemployment also fell, to 3.4%\u2026","rel":"","context":"In "Australia & NZ"","block_context":{"text":"Australia & NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/img.youtube.com\/vi\/nSXIetP5iak\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11528,"url":"https:\/\/thepatientinvestor.com\/index.php\/2015\/02\/08\/heres-how-to-achieve-full-employment\/","url_meta":{"origin":7548,"position":4},"title":"Here’s How to Achieve Full Employment","author":"ColinTwiggs","date":"February 8, 2015","format":false,"excerpt":"Economic Policy Institute President Lawrence Mishel provides the U.S. House Committee on Education and the Workforce with a shopping list of measures he believes are necessary to achieve full employment. Some are right on the mark while others seem to have missed the basic rules of Supply and Demand taught\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37249,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/09\/12\/fed-higher-for-longer\/","url_meta":{"origin":7548,"position":5},"title":"What Fed “higher for longer” means","author":"Colin Twiggs","date":"September 12, 2022","format":false,"excerpt":"Former New York Fed President Bill Dudley says the Fed will need to hold rates \"higher for longer\" in order to curb inflation. He expects rates will be \u201c4% or higher\u201d in the first half of 2023. (Bloomberg) A 75 basis-point hike is on the cards for the next FOMC\u2026","rel":"","context":"In "Banks & Interest Rates"","block_context":{"text":"Banks & Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Nymex Light Crude","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-09-12-crude.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/7548","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=7548"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/7548\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=7548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=7548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=7548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}