>>That's like saying that unemployment is bad for society. Yes on moral grounds, very much NO according to economic wizards.
>
>I don't know what economic wizards you are talking about but unemployment is a sign of inefficient use of resources. If you sell goods, you need people to sell them to. Unemployed people are a negative on the society. I don't think "economic wizards" would tell you 20% unemployment is better for society that 4%.
I think he meant that for some? economists is good to have some level of unemployment, to keep salaries down, then, for those guys, 4% unemployment is good while 0% is bad.
http://www.econlib.org/library/Enc/PhillipsCurve.html
"The five senses obstruct or deform the apprehension of reality."
Jorge L. Borges?
"Premature optimization is the root of all evil in programming."
Donald Knuth, repeating C. A. R. Hoare
"To die for a religion is easier than to live it absolutely"
Jorge L. Borges
