What happens to unemployment in an economic system as more and more inequality is introduced?<unk> What happens to unemployment in an economic system as more and more inequality is introduced? ️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️<unk>️ 1 - 20 phrases. <unk> <unk>
2013 Nobel prize winner Robert J. Shiller said that rising inequality in the United States and elsewhere is the most important problem. Increasing inequality harms economic growth.<unk> Increasing inequality harms economic growth. High and persistent unemployment, in which inequality increases, has a negative effect on subsequent long-term economic growth.<unk> High and persistent unemployment, in which inequality increases, has a negative effect on subsequent long-term economic growth. Unemployment can harm growth not only because it is a waste of resources, but also because it generates redistributive pressures and subsequent distortions, drives people to poverty, constrains liquidity limiting labor mobility, and erodes self-esteem promoting social dislocation, unrest and conflict. Unemployment can harm growth not only because it is a waste of resources, but also because it generates redistributive pressures and subsequent distortions, drives people to poverty, constrains liquidity limiting labor mobility, and erodes self-esteem promoting social dislocation, unrest and conflict. ••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••••