“Jobless Recovery” and Common Jobs Fallacies
On 6 November 2009,
in current events, economics,
by Ryan
“Economists” and cable TV commentators have been tossing around the idea that we are experiencing what they have termed a “jobless recovery.” Under this theory, we are able to experience economic growth (defined as an increase in real GDP) yet have no growth in jobs. I wonder what else we can expect to accompany this phenomenon, perhaps more irrational logic and noble lies from these soulless priests on such educational television. This oxymoronic concept defies all rational economic theory: how can you have a recovery without job creation – or even more fundamentally (and relevant), how can you possibly have a recovery with additional job loss?
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