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High Unemployment is Not Permanent
Author(s) -
Minford Patrick
Publication year - 1984
Publication title -
economic affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.24
H-Index - 18
eISSN - 1468-0270
pISSN - 0265-0665
DOI - 10.1111/j.1468-0270.1984.tb01643.x
Subject(s) - government (linguistics) , unemployment , ask price , economics , labour economics , economy , economic growth , philosophy , linguistics
People in industry and government who should know better are hounded by the fear that intensified mechanisation by computer, micro‐chip and other advanced technologies will ‘destroy’ jobs. ‘Where will the new jobs come from?’, they ask mechanically. Professor Patrick Minford retorts that their fears are largely groundless because their reasoning is superficial. The long‐term outlook for employment could be bright if government helped rather than hindered fluidity in the labour market.