Re:For first time since 1880s, more young Americans live wit...
by toomuchtodo on Tuesday May 24, 2016 @06:48PM
(#11766191)
Surplus labor allows for the devaluing of labor. Japan doesn't have a surplus of labor (IMHO) due to lack of immigration and a quickly aging population.
Re:For first time since 1880s, more young Americans live wit...
by kevin_thibedeau on Tuesday May 24, 2016 @10:21PM
(#11767247)
Japan does have a labor surplus. That's why they have so many public sector make-work jobs doing things that could be automated or performed with fewer people.
Re:For first time since 1880s, more young Americans live wit...
by toomuchtodo on Tuesday May 24, 2016 @10:25PM
(#11767263)
Have details on this? My understanding is that Japan's unemployment rate is between 3.3 and 3.5 percent.
Re:For first time since 1880s, more young Americans live wit...
by kevin_thibedeau on Tuesday May 24, 2016 @10:28PM
(#11767276)
Unemployment is low because of the make-work programs that hide reality.
Re:For first time since 1880s, more young Americans live wit...
by toomuchtodo on Tuesday May 24, 2016 @11:13PM
(#11767440)
Can you provide citations or relevant links to where I can find information on these make-work programs?
I think the most likely culprit is what Steve Keen says it is: debt.