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EU unemployment is a problem. | 70 comments (70 topical, editorial, 0 hidden)
Re: EU unemployment is a problem. (none / 0)
Debt does have that effect, although it is a deeply perverse way to address the problem.
This ties in with rdf's diary credit = growth, to which DeAnander quipped that "credit" is just another word for debt.

Maybe you'd like to comment over there?

By the way, Drew owes me a diary on debt-based money and how it is [not] a perverse vay to run a monetary policy.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Carrie (migeru at eurotrib dot com) on Wed Mar 29th, 2006 at 04:13:29 AM EST
[ Parent ]
Re: EU unemployment is a problem. (4.00 / 2)
Let me backtrack a bit.

I agree with Drew that debt is not necessarily perverse. At reasonable levels it is part of a well-functioning economic system.

What is perverse in the US is the level to which debt is substituting for sustainable growth in living standards from wages and incomes.

It's all a question of balance.

by TGeraghty on Wed Mar 29th, 2006 at 04:30:51 AM EST
[ Parent ]

EU unemployment is a problem. | 70 comments (70 topical, 0 editorial, 0 hidden)
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