Economics Nobel. Three laureates explained why unemployment is inevitable.


High unemployment is now plaguing many nations’ economies, but even in the best of times, about one out of every 25 workers will be out of a job. This year’s winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel laid out the theory that explains why full employment is impossible. Peter Diamond, 70, of the Massachusetts… (More)
DOI: 10.1126/science.330.6002.303