Unemployment
EC4004 Lecture 7
Stephen Kinsella
www.stephenkinsella.net

Today
1. Recap
2. Capacity Utilisation
3. Unemployment

Unemployment

Ireland’s Employment Rate, 1997-2006

[Route] 66 is the path of a people in flight,
refugees from dust and shrinking land, from the
thunder of tractors and invasion, from the
twisting winds that howl up out of Texas, from
floods that bring no richness to the land and
steal what little richness is there.\"
––John Steinback, The Grapes of Wrath, Chapter 12, pg. 150

\"On the highways the people moved like
ants and searched for work, for food. And
the anger began to ferment.\"
––Grapes of Wrath, Chapter 21, pg. 363

Equilibrium