Here.
And they call economics a science.
It's not a mystery if you question your presuppositions, for example that the economy is strong, and that the unemployment rate tells you something meaningful. But that might be too much to ask of an economist.
Strong growth is relative. Economic growth in the post-war began with a big bang and has been cooling off ever since. Compared to the beginning, we're half as robust today. So the economy is not strong, just operating in concert with inertia.
The unemployment rate is very low, but only because so many people have dropped out of the labor force at the same time that the slowest jobs recovery in the post-war has occurred. The low unemployment rate is an artifact of this concurrence.
Presently there are over 16 million people unemployed, underemployed, and not in the labor force who want to work. That's why wages aren't growing. We're still flush with labor, and business knows it.
You can be replaced.
And they call economics a science.
It's not a mystery if you question your presuppositions, for example that the economy is strong, and that the unemployment rate tells you something meaningful. But that might be too much to ask of an economist.
Strong growth is relative. Economic growth in the post-war began with a big bang and has been cooling off ever since. Compared to the beginning, we're half as robust today. So the economy is not strong, just operating in concert with inertia.
The unemployment rate is very low, but only because so many people have dropped out of the labor force at the same time that the slowest jobs recovery in the post-war has occurred. The low unemployment rate is an artifact of this concurrence.
Presently there are over 16 million people unemployed, underemployed, and not in the labor force who want to work. That's why wages aren't growing. We're still flush with labor, and business knows it.
You can be replaced.
