full employment

Job-creation is and always has been a massive priority of governments worldwide. In 2012, the World Bank claimed 600 million new jobs needed to be created over the next fifteen years. In this connection, here is a classic quote from 1933: “A war would be a great idea…Another war would give our three million unemployed ample employment.”

As of Thursday, some twenty-six and a half million people were said to be unemployed in the United States. Can this be true? How about no one is unemployed? No one.