I asked my professor this last class and he said yes, giving the example of the great depression. I accepted it as such, then. However, I have thought otherwise since. If supply is defined as being willing and able to produce a specific quantity at specific price, ceterius paribius, wouldn't it be correct to assert that if you are not supplying your wage, you technically are not unemployed? Is a good definition for unemployment the unability for find employment that occurs when a supplier is unable to sell their service for a particular price because.. wouldn't that 'because' have to be some market distortion? Am I wrong to assert unemployment can only occur when a market distortion is persent? Can someone convience me that I am wrong?
2007-09-11
17:40:29
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4 answers
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asked by
Anonymous