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One of these things…

Originally published at BunkBlog. You can comment here or there.

What are we doing differently, to cause our employment rates to be so out of whack compared to pretty much every other industrialized nation?


( 4 comments — Leave a comment )
Jun. 28th, 2011 05:51 pm (UTC)
Jun. 28th, 2011 05:57 pm (UTC)
It's always heartening to be told by the various elected reps and talking heads that we're Recovering, based on GDP (which has recovered to near-2006 levels). Meanwhile, the average American works longer hours for less pay, assuming they have a job at all.

Whatever it is we're doing differently, maybe that should be looked at.
Jun. 28th, 2011 08:28 pm (UTC)
GDP is a nonsense number -- such a thing is both unmeasurable and irrelevant.
Jun. 28th, 2011 08:27 pm (UTC)
The magnitude of the misallocation of resources from massive credit expansion was much, much greater in the US than elsewhere -- the bubbles were unprecedentedly massive. Therefore, the corresponding corrections have to be so much larger. It's pretty simple. And the thing is, the government is still doing everything exactly wrong which is making the correction that much worse.
( 4 comments — Leave a comment )