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Yes! If more people understood this, the world would be a better place. Reminds me of this post on "fiscal conservatives": http://itsthepeoplesmoney.blogspot.com/2014/11/confessions-o...

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Interesting. I like what he says about debt-to-GDP, but I'm not sure I understand his leap to the conclusion that we should be striving for full employment.

I understand why we'd want to scale production to meet the increased demand induced by consumers having more money. But if it would be efficient for us to scale up production without creating jobs, why should we create jobs?

What is the value of full employment?

traditionally there have been exactly two options available: employment and unemployment, the former being considered preferable.

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