Does Unemployment Need to Rise to Tackle Inflation? w/ Professor Robert MacCulloch

As people continue to struggle with rising cost of living, some economists have suggested raising unemployment rates to tamp inflation. However, doing so would further increase hardship for those laid off, and job losses would concentrate among low-income workers. Are gentler deflationary tools available?

Hanna spoke to Professor Robert MacCulloch, Matthew S. Abel Chair of Macroeconomics at the University of Auckland, about why unemployment remained low despite market shocks, the theory behind raising unemployment to tackle inflation and its critique, and the disciplinary effect of unemployment on workers.