Effects Of Unemployment Quotes & Sayings

So what are the effects of increasing minimum wages? Any Econ 101 student can tell you the answer: The higher wage reduces the quantity of labor demanded, and hence leads to unemployment. — Paul Krugman

A parallel to this system of punishment is the trauma caused by enforced unemployment in capitalist society. Add to this an inability for the unemployed to find any imaginable alternative occupation, and the extent of the effects of network exclusion becomes clear. — Alexander Bard

Unemployment doles can have no other effect than the perpetuation of unemployment. — Ludwig Von Mises

Long-term unemployment is particularly costly to those directly affected, of course. But in addition, because of its negative effects on workers' skills and attachment to the labor force, long-term unemployment may ultimately reduce the productive capacity of our economy. — Ben Bernanke

The public at large have learned to understand, and I am afraid a whole generation of economists have been teaching, that government has the power in the short run by increasing the quantity of money rapidly to relieve all kinds of economic evils, especially to reduce unemployment. Unfortunately this is true so far as the short run is concerned. The fact is, that such expansions of the quantity of money which seems to have a short run beneficial effect, become in the long run the cause of a much greater unemployment. But what politician can possibly care about long run effects if in the short run he buys support? — Friedrich Hayek