INTEGRATIONALISM

"all things in existence are physiologically connected"

Krugman preaching to the choir “U.S. Should Do `Everything We Can’ to Boost Jobs”

Krugman Says U.S. Should Do `Everything We Can’ to Boost Jobs – Bloomberg.

Paul Krugman and all of the other author economists are great at reporting facts derived from statistical analysis. We all appreciate their ability to tell the truth based on the numbers. Unlike engineers they aren’t trained to use their numerical findings and derive solutions.

Per the article from Bob and Carol “The lack of jobs will curtail consumer spending, which accounts for about 70 percent of the world’s largest economy”. The US requires consumer, not necessarily jobs.

Simply stating that the US needs to create jobs won’t help. Every nation needs to create jobs per free-market capitalism’s philosophy, right? (rhetorical questions…gotta love em’). Is it possible to actually create jobs in America? On page 56 of Integrationalism: Essays on the rational of abundance I start to elaborate on how our technological zeal couples with operational efficiencies won’t allow for creation of gameful employment in the modern day.

Succeeding a trilogy of “jobless recoveries” (00′, 04′, 10′) the money supply if greater than where it was in the roaring 1990’s…lol. But the bureau of labor statistics reports that the ratio of population growth versus job creation is 2:10 –> Further, the people born in 1990, who are of working age today, can expect to be surrounded by greater wealth and less access to it.

The philosophical question here is: Should the 20 y/o population of 2010 expect to work on jobs, or receive some universal welfare?

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2 Comments»

  Joel Harbor wrote @

Krugman is saying we will have double dip so we need another trillion in stimulus to create jobs. However we need to look at the bigger picture. Thanks for the article. Cheers. http://www.harborstand.blogspot.com

  JFKII wrote @

I agree with you. Niall Ferguson is making a good argument against the hyper spending ideals of Krugman…but I think that Krugman is acknowledging something that Ferguson isn’t. In the world that we are currently living (unlike Ferguson’s known history) the disparity in military and political influence among the interconnected world is what incentivizes everyone to “play well in the sand box”. I’d even reference Brazil and the developing world’s (minus China) willingness to buy into US debt even as China scales back.

One thing i for sure, it will be interesting to see is the US can bring confidence and fear to its investors (the world)…if not Ferguson’s history will “repeat itself”.


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