The Anti-Economist — From the January 2013 issue

Trading for Jobs

Download Pdf
Read Online

As President Obama begins his second term, our gross domestic product is in recovery mode. But the jobs market is still in a Great Recession. Unemployment hovers stubbornly around 8 percent. At current rates of growth, it isn’t likely to fall to the projected “new normal” of 6 percent for another eight to ten years. An even higher proportion of the population cannot find a full-time job, and there are more long-term unemployed workers than ever before.

Obama spent little of his first term working on job creation, mistakenly believing he’d already solved the problem with his stimulus. Last fall, facing a slowing economy and high unemployment before Election Day, he finally shifted his policy focus. Let’s hope that this time around Obama realizes that fixing the jobs hole is critical, and that it will require every tool in his kit. The national obsession with cutting the deficit immediately is likely to limit further fiscal stimulus and investment in infrastructure, which is why the president must not neglect another key strategy: rethinking America’s trade policies.

This article is only available to magazine subscribers. If you are a subscriber, please sign in. If you aren't, please subscribe below and get access to the entire Harper's archive for only $39.99/year. Or purchase this issue on your iOS or Android devices for $6.99.

= Subscribers only.
Sign in here.
Subscribe here.

Download Pdf
Single Page
Share
undefined

More from Jeff Madrick:

Get access to 164 years of
Harper’s for only $39.99

United States Canada

  • dimposs

    What’s to think about? Any time business deals are given the power to over-rule a democratically-elected government in the normal course of a nation, that business deal must be considered treasonous and those proposing it considered enemies of the people of that nation, if not all people everywhere. Full stop. That means the politicians who allowed the deal to be considered legal, as well as the individuals standing to profit from its execution, are both to be held accountable and prosecuted to the fullest extent of the law.

    • http://batman-news.com Richard Weatherill

      Politicians held accountable? That would be a first……

THE CURRENT ISSUE

January 2015

Come With Us If You Want to Live

= Subscribers only.
Sign in here.
Subscribe here.

The Body Politic

= Subscribers only.
Sign in here.
Subscribe here.

The Problem of Pain Management

= Subscribers only.
Sign in here.
Subscribe here.

Game On

= Subscribers only.
Sign in here.
Subscribe here.

Love Crimes

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content