Quote:
Originally Posted by 202_Cyclist
pesto:
Then how do you explain the 2M - 3M new jobs created in the past two years, with over 200,000 new jobs created last month? It is not even controversial, except within the Republican party, that the Recovery Act created jobs and kept unemployment from being even much worse. John McCain's campaign advisor from 2008, Mark Zandi, even concedes this point.
U.S. Economy Gains Steam as 200,000 Jobs Are Added
http://www.nytimes.com/2012/01/07/bu...pagewanted=all
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Cyclist: I consider it part of the economic recovery that has been struggling to emerge over govt. insistence that it be slowed as much as possible by deficits, taxation and inefficiency.
Off subject, but read just this much and think about it: employment will always drift back toward full emloyment as people finally get desperate enough to take jobs way below their skill levels. But is this "growth"? Or have the qualilty jobs moved somewhere else due to fear that deficits, exessive regulation and an attitude of entitlement have left America a bad place to hire people? There's no clear answer, but don't reject it out-of-hand. And it really is educational to see how Keynesianism failed (except in politics) and economics moved on to endogenous growth theory, rational expectations, game theory, public choice and a dozen other new ideas that have explained things that previously baffled economists (and sociologists, psychologists, etc.).