Why is unemployment high/low?

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2026-05-12 18:08:03 -

Why Is Unemployment High or Low? The modern economist likes to discuss unemployment the way medieval astrologers discussed eclipses: as though it were a mysterious celestial event, arriving from forces beyond human control. A chart bends downward, another upward, and the televised priesthood begins its ritual incantations about “stimulus,” “aggregate demand,” and...

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