Unemployment? Perhaps Unemployment is the “New” Job?

More and more I’m convinced that what we see here isn’t a true indicator of unemployment.  Rather, what we’re seeing is a text book example of:

In other countries, particularly in Europe, benefits are more generous and last longer. The drawback to this generosity is that it reduces a worker’s incentive to quickly find a new job. Generous unemployment benefits in some European countries are widely believed to be one of the main causes of “Eurosclerosis,” the persistent high unemployment that affects a number of European countries.

And can you guess who said THAT?

The most Liberal Economist Alive:  Paul Krugman; that’s who.

Anyway, Exhibit in the Unemployment Fallacy:

One response to “Unemployment? Perhaps Unemployment is the “New” Job?

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