Economists are now admitting that they were wrong about globalization

Re:Economists are now admitting that they were wrong about g... by hos234 on Friday October 25, 2019 @03:39PM (#21358507)

I don't think economists are lying about it. Krugman atleast keeps posting graphs about the low odds of unemployed men over 35(?) getting back into the workforce. If I remember right, he brings it up to push Infrastructure Spending (2-3 Trillion much overdue since everything is falling apart/also has bipartisan support). Something like that would produce that "glut of jobs".

[ Parent | on HN ]

Re:Economists are now admitting that they were wrong about g... by neffy on Friday October 25, 2019 @07:33PM (#21360261)

There's really a very fundamental lack of imagination going on in economics if people there are defending a state where there is clearly work that needs doing (bridge repair for starters), and people available to do it.

The equivalent in a computer would be a bunch of processors sitting idle, because the programmers couldn't figure out multi-threading.

[ Parent | on HN ]

Re:Economists are now admitting that they were wrong about g... by asdff on Saturday October 26, 2019 @03:55AM (#21362375)

The money that is used to pay for that work has been extracted from the economy and hoarded away. If you want better schools and infrastructure, step 1 is to tax property at market rate.

[ Parent | on HN ]