Unemployment doesn’t have to mean poverty - it’s better to have a sustainable level of unemployment with good social insurance than to pursue unsustainable full employment that leads to boom-bust cycles and ultimately makes everyone worse off
You don’t MAKE them stay home, you just don’t aggressively pursue full-employment policies. You tailor monetary policy to aim for a target 4-ish% inflation per year.
You gotta have the poors for that full-on capitalism experience. And it’s not complete until you demonize them.
Unemployment doesn’t have to mean poverty - it’s better to have a sustainable level of unemployment with good social insurance than to pursue unsustainable full employment that leads to boom-bust cycles and ultimately makes everyone worse off
How exactly does one ensure a certain percentage of people stay home? Is it the invisible hand?
You don’t MAKE them stay home, you just don’t aggressively pursue full-employment policies. You tailor monetary policy to aim for a target 4-ish% inflation per year.