The role of unemployment in capitalism

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Property is Theft!

Unemployment in Britain currently stands at roughly two and a half million. This is not far from the three million mark of the Thatcher era, which became a watermark for social discontent. With public sector job losses – and the private sector fallout – expected to claim another million people, it is unsurprising that people fear a return to those dark days.

As such, it seems a rather apt time to look at unemployment and the role it plays within a capitalist society.

Like most areas of economics, unemployment is a subject which has been entrenched in dogma by the advocates (including the less sincere ones) of the capitalist “free” market. Thus, in looking at its real function, we first need to sweep away the cobwebs of laissez-faire mythology.

Joblessness and the fables of the market

The most prevalent idea on the economic right, in this area, is…

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