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Full Employment

Dressed Up—For What?

It was a pleasant evening in early summer, still quite light, warm and balmy, the air laden with the scent of flowers from the park across the way. For what was normally a busy London suburb, there was surprisingly little traffic and this lent an atmosphere of tranquility—something all too rare nowadays.

 Then I saw him. He was standing in a shop doorway, a well built young man of about 23, handsome in a coarse way, and one who obviously took great care of his appearance. From his thick, brushed hair to his gleaming shoes, he was a picture of smartness, reminding one of the photographs appearing in male fashion magazines—but without the usual smile.

Economics of Unemployment

With the experience of two centuries of capitalism to go on, it might be expected that by now everything about the causes of unemployment and its fluctuations would be known. In fact, most economists and politicians are as confused about it as were their predecessors. They go on propounding old discredited theories, or the new absurdities that have emerged in the last half century. The TUC and the various wings of the Labour Party are as much in the dark as are the Tories. In defiance of the evidence, they all have a childlike faith that there must exist somewhere a magic formula that would enable them to run capitalism without unemployment—if only they and their computers could find it.

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