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You’re right that this one metric doesn’t tell the whole story, but no metric does and they aren’t meant to. Of course you need to look at other metrics besides
by weberc2 7y ago
You’re right that this one metric doesn’t tell the whole story, but no metric does and they aren’t meant to. Of course you need to look at other metrics besides employment to understand how well your society is doing.
- wheelerwj 7y agoRight, but the point is that not only does this metric not tell the whole story, but that it tells the WRONG story. Unemployment isn't a useful metric anymore.
- weberc2 7y agoPerhaps, but your rationale (“it’s not meaningful if jobs pay half of what they used to”) supports my interpretation (“not the whole story”), not your thesis (“WRONG story”). Correct me if I missed something; haven’t had my coffee yet.