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EU unemployment is a problem. | 70 comments (70 topical, editorial, 0 hidden)
Re: EU unemployment is a problem. (none / 0)
The other part of the theory is of course that demand shifts, so cars may be saturated, but other markets take over.

The problems there are:

a) Whilst "new" products and services are continually created, "old" ones are continually destroyed. It's not clear that the new ones are keeping up.

b) There is an employment mismatch. Old industries employed thousands of people. New industries are generally created to be more efficient from the get go, but that leaves an employment gap.

c) The concentration of capital means that a lot of "new" industries are in "personal services." There are mostly social, rather than economic problems with that, but the social problems at least cause "lag."

by Metatone (metatone [a|t] gmail (dot) com) on Tue Mar 28th, 2006 at 10:55:45 AM EST
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EU unemployment is a problem. | 70 comments (70 topical, 0 editorial, 0 hidden)
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