Some economists and legislators argue that there is no unemployment problem (per se) in the United States or Europe. Globalization, in which U.S. firms close their American factories and create factories, call centers, and other facilities in other countries, would seem to support the "no such thing as unemployment" hypothesis. The same argument can be made for airline machinists or General Motors autoworkers who refuse to lower their wages and benefits at the risk of losing their jobs.
- How might the economists or legislators come to the conclusion that there is no unemployment problem?
- What data or evidence would seem to support this position?
- What evidence or data would suggest otherwise?
- In your opinion, is the statement "There is no unemployment problem (per se) in the United States or Europe" a plausible hypothesis?