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By jorvay (registered) | Posted December 13, 2012 at 15:24:54
The highlight for me was Mr. Whitehead's economics lesson (1:18:45) where he suggested that even in an economic model where you have 'full employment,' you'd have to have between 3% and 5% unemployment. In this regard he is correct. However, he then implies that the economic model of full employment even leaves some people behind. That's not true. I too took a course in economics when I was in university. In fact, I took three courses in economics and we talked about full employment a few times. That 3-5% accounts for the number of people at any given time that are switching jobs for normal and legitimate reasons. They are theoretically moving, changing fields, or advancing their position. They're not being left behind. There is also a job vacancy rate within that model of 3-5% to correspond to the unemployment rate.
Comment edited by jorvay on 2012-12-13 15:27:56
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