Dobell, RodHo, Y. C.2010-12-012010-12-0119671967-11Dobell, A. R., and Y. C. Ho. "An Optimal Unemployment Rate." The Quarterly Journal of Economics 81.4 (1967): pp. 675-683.0033-5533http://hdl.handle.net/1828/3146(c) 1967 by M.I.T. Press: http://www.mitpressjournals.org/loi/qjecThis article describes a model of capital cost of occupational training. Thus, in an extension of standard optimal accumulation models, we do find a criterion which tells us when increasing the employment rate would lead to lower consumption per capita and, in this model, a lower rate of growth. Qualifying people to enter employment costs resources and probably more resources the higher is the present employment rate. Since, however, the cost is in the nature of a capital cost, and the benefits more like flows, care has to be taken to ensure that the asset evaluations are correctly made.enCentre for Global StudiesArticleSchool of Public Administration