Friday, January 30, 2004

But where are the jobs? Please shutup
I just read another crappy article complaining about economic growth without jobs. Honestly - did these "business" reporters ever bother to take a basic economics course? Of course not - or they slept through the one they took without absorbing its lessons. In case one of them is reading this blog, here is a primer
1) Economic growth per person is unsustainable long term without productivity growth
2) Economic growth without job growth means that productivity is growing, which in the short run means fewer jobs
3) In the long run it means each job can do more, and leads to sustainable longterm econcomic growth
4) So stop complaining - these are good signs

No comments: