Osborne promising full employment – is this an April Fool?

Mike here gives a point by point refutation of George Osborne’s speech, in which he promised ‘full employment’. In fact, what Osborne has promised is most definitely not full employment. It is even further punitive cuts to the benefits system, and increased workfare and harassment of people seeking work. As for the promise that there will be full employment, this is actually meaningless. Alittleecon’s article, which Mike has also reblogged, shows that there are three definitions of full employment, only one of which is the common sense one, which says that full employment means everyone having a job. One of the other definitions is the maximum of employment, before it leads to inflation. This is about 6 or seven per cent. As six per cent is the level of unemployment recommended by von Hayek, Friedman and the rest of the Chicago school to keep wages low, my guess is that this is the definition of ‘full employment’ that Osborne really means. In other words, more unemployment, just that it’s made to look like full employment through Tory ideology.

Mike Sivier's blog

Bottom of the class: If you believe George Osborne's talk about jobs and benefits, you must have been educated at one of Michael Gove's 'free schools'. [Image: Gaianeconomics] Bottom of the class: If you believe George Osborne’s talk about jobs and benefits, you must have been educated at one of Michael Gove’s ‘free schools’. [Image: Gaianeconomics] The answer has to be in the affirmative. Conservatives can’t promise full employment because it simply isn’t part of their philosophy.

As this blog has stated many times, Tories need a discontented underclass fermenting away beneath the lowest-paid members of the working class, in order to create the level of fear necessary to keep wages down.

The argument is that a person will not ask for a pay rise if they know their boss will turn around and say, “There are hundreds out there who will work for less than you – pick up your cards on the way out!”

For a more easy-access disproval of Osborne’s claim, we only have to look a little further into his speech – from the…

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