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Did Japan, who appears to be leading us by about a decade and a half, have the same issues? I think the most likely culprit is what Steve Keen says it is: debt
by carsongross 10y ago
Did Japan, who appears to be leading us by about a decade and a half, have the same issues?
I think the most likely culprit is what Steve Keen says it is: debt.
- toomuchtodo 10y agoSurplus 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.
- kevin_thibedeau 10y agoJapan 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.
- toomuchtodo 10y agoHave details on this? My understanding is that Japan's unemployment rate is between 3.3 and 3.5 percent.
- kevin_thibedeau 10y agoUnemployment is low because of the make-work programs that hide reality.
- toomuchtodo 10y agoCan you provide citations or relevant links to where I can find information on these make-work programs?