And for myself, I think for the present He is calling me to another land; but how long shall be my abode, or what employment He has for me there, I know not, for I cannot think He is taking me there to live and lurk only. ↗
I define genuine full employment as a situation where there are at least as many job openings as there are persons seeking employment, probably calling for a rate of unemployment, as currently measured, of between 1 and 2 percent. ↗
Currently a level of unemployment of 7 percent or more seems to be required to keep inflation from accelerating, a level quite unacceptable as a permanent situation. ↗
If unemployment could be brought down to say 2 percent at the cost of an assured steady rate of inflation of 10 percent per year, or even 20 percent, this would be a good bargain. ↗
There would be no idling in a co-operative workshop. Each workman, being an employer, has a spur to his own industry, and has a pecuniary reason for being watchful of the industry of his fellow workmen. ↗