“Both demand and supply factors are at play in this disheartening dynamic. On the demand side, it seems fairly clear that our contemporary economy is just not generating jobs and work as robustly as it did in the past—even the relatively recent past. This can be seen as a ‘structural’ problem. For on the supply side, it is apparent that there has been a major behavioral change in America, wherein a growing proportion of working-age Americans are checking out of paid labor altogether. Suffice it to say that not working at all is neither unthinkable nor unaffordable these days, even for adults in the prime of life.”
http://www.aei.org/article/economics/the-astonishing-collapse-of-work-in-america/
(Visited 44 times, 1 visits today)
Related posts:
John Hussman: Brexit and the Bubble in Search of A Pin
Detlev Schlichter: ‘Positive Money’ and the fallacy of the need for a state money producer
The Management-free Organization
The Idiot’s Guide to Becoming a Bitcoin Billionaire
Donald Trump didn't create presidential dictatorship -- he inherited it
Disarm the police, not the citizens
Is the National Security Agency behind Bitcoin?
Crooked Judges Want Your Kids for Cash
Bubble Symmetry and Housing
John Hussman: Recognizing the Risks to Financial Stability
The Latter-Day Rome Lives And Kills
How to escape from a car underwater
Uncovering License Plate Scanners: The Next Big Thing in Government Tracking
Nothing 'Orderly and Humane' about this chapter of WWII history
Stop Fooling Ourselves: Americans Can't Afford the Future