Tuesday, September 11, 2012
Republicans And Democrats Are The Unemployment Problem
Economists have academic debates about whether US unemployment is a structural problem or due to a lack of demand. Ezra Klein does a nice job of describing each of these explanations for unemployment. Neither Romney or Obama are talking much about the unemployment problem. They prefer to talk about things that voters seem to want them to talk about. Obama knows that Republicans will not let him do anything about the problem, so he talks about fixing education. Romney would rather talk about making job creators happier, than government policies that might help the unemployed. In other words, the politicians, and perhaps naive voters, are the problem.