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Fear doesn't travel well; just as it can warp judgment, its absence can diminish memory's truth. What terrifies one generation is likely to bring only a puzzled smile to the next. --Arthur Miller, "Why I Wrote 'The Crucible'", The New Yorker, October 21, 1996
All opinions here are the brain-wrackings of Sabina C. Becker, unless otherwise credited. If you cite them, please give credit where due.
Suck it, haters. Feminism rocks!
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By the way, it’s not impossible to have “jobful recession”s. Germany and Holland, etc. (and we might add, good ole Vzla) have managed to keep employment more or less constant despite the recession. I suppose at least if the recessions aren’t too deep, it is not impossible.
You don’t suppose that’s because they refused to cut public-sector jobs, which tend to be quite a good living…do you?
Both public and private. They didn’t cut public sector jobs, and had “workshare” arrangements whereby businesses that don’t fire but rather keep people working fewer hours for roughly the same pay get tax cuts. Whitebread has a couple of pieces on this on the CEPR website (or pieces where this is mentioned in passing).