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Discussion: (2 comments)

  1. Why don’t we give discredited central planning a rest. The government should do nothing but get out of the way and let the markets handle the malinvestments just as they did during the 1920 correction, which was far deeper than what we saw in 2008 but ended a few months after it began. We do not need policy makers to, “fashion a comprehensive re-employment policy that addresses the specific needs of the long-term unemployed.” We need them to get rid of the labour laws and taxes that prevent investment and capital formation from taking place.

  2. Vic Volpe

    The long-term unemployment is not only hard on the older folks; but, also the younger generation coming into the labor force facing poor utilization of their skill set — the possibility of a lost generation if this goes on for ten years.

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