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Becker
Long-term unemployment has received insufficient attention during this presidential campaign – Becker and Posner
The most disturbing aspect of the high unemployment rate during the past 4 years has been, namely, the large number of the unemployed who have been out of work for at least 6 months. Last month 5 million men and women had been unemployed for at least 6 months, and they comprise about 40% of … Continue reading
The extension of unemployment benefits may also have been a mistake write Becker-Posner
I don’t think there’s much else the government could have done to arrest the depression. Attempts at fundamental economic reform should not be made during a depression, because they create uncertainty, which increases the incentive of businesses and consumers alike to hoard rather than spend; hence the Administration’s health-care reform was mistimed. The extension of … Continue reading
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