“... Moreover, their [economists'] position is both philosophically and technically unsound because they almost universally assume that the primary function of an economy is to ensure that all able-bodied individuals are working. This assumption inevitably encourages inefficiency and recognizes humans essentially as mere economic functionaries - and debases the nature and purpose of human life.
To which J.H. responded:
But even in regard to this (false) assumption, they fail on their own terms. I am thinking of the neoclassical doctrine of "natural rate of unemployment" which asserts that unemployment (in SC terms, translate as unempayment) should be kept at 5% or higher in order to keep the workforce disciplined, to prevent wages from rising too rapidly, and to keep price inflation within acceptable bounds.”