There is a desperate dearth of jobs in developed economies. The economies have cratered because of profligacy by banks and consumers. Credit has collapsed. And with this businesses have folded. As the tide of money has gne out it has revealed a long term employment probkem that has been created over decades. As technology has made human beings less useful by replacing them the number of jobs has declined and the utility of a human relative to a machine has declined. There are no jobs.
The main solution to this is to nurture a change in systems which allows for more leisure. However, it is likely that the equation will change again in a few short decades as the expiration of fossil fuels means that humanity can not leverage itself on oil so much. Then we’ll be back to digging fields.
In the meantime, job creation is a top priority. Without work people become restless and depressed and society degrades.
The Economist: The curse of long-tern unemployment will bedevil the economy.
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