Full employment or full of inactivity?

In the economic and political world, the term ‘full employment’ has come back from the dead. It was a prevalent term back in the days of Franklin D Roosevelt in the 1940s and Martin Luther-King advocated for it in the 1960s. It also crept back into political parlance in the dying days of George Osborne’s chancellorship in the UK around 2014. Today, we’ve heard it reemerge in the US, where the Fed has said that the US economy is “at or a little beyond full employment”, to some degree in the UK, and it hit the headlines a few weeks ago locally, prompted by a 280-character tweet by yours truly.

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