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Fellow -> RE: U.S. companies increased their hiring in February (3/9/2012 9:23:29 AM)
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Use less labor per person and share the jobs with everyone instead of creating a permanent unemployed group, or creating more stuff that just goes in a garage or landfill.
Or we can keep trying to make more shit and sell it, and convince people to buy the shit on credit and throw it away before they have paid off the debt...
The idea would work, but in different system. I remember France have tried it by reducing weekly work hours per worker. For today's USA it is utopia. More realistic immediate solution would be re-introduction of import tariffs or forcing introduction of American labor standards in China and wherever we import from. Annual trade deficit 2011 was 558 billion and it has never been so high.
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A common slam, and completely wrong. Keynes would have proposed contractionary policy during boom times. And had we done that, we'd be sitting pretty right now. Since we didn't, Keynes would propose contractionary policy following recovery.
I am really not against government spending during economic depression. The question is how to spend? Obama administration pretends there are no major structural problems in the economy despite everybody who pays attention knows they are wrong. So, no programs have been put in place to change the trends. Extrapolating into the future the logical path is very high inflation, even higher unemployment, political instability and so on. Take Obama out of there in November.
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