Economics for Dummies: Woo woo woo woo…

jobful-recession.jpg

So who said we didn’t live in Bizarro World already? There are plenty of people who think an economy abounding in well-paid jobs IS a Bad Thing. That’s why we no longer have one.

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3 Responses to Economics for Dummies: Woo woo woo woo…

  1. Manaat says:

    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.

  2. You don’t suppose that’s because they refused to cut public-sector jobs, which tend to be quite a good living…do you?

  3. Manaat says:

    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).

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