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Comment by chriserin

This is an argument that the unemployment problem is structural rather than cyclical. Paul Krugman points out constantly that if the unemployment problem was structural, we'd see wages rising in areas where there is demand, but wages aren't rising for anybody that makes less than 400,000, though for those above they've increased 23% since 2008.

The structural unemployment argument is a trope to insist that the government can't do anything to encourage employment, because stupid people just can't do today's jobs. Its politics disguised as economics.

parent chriserin 15 years ago

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