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September 16, 2013

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Frank H Little

I wish there were a more acceptable term than "lagging indicator", because this depersonalises real hardship, but it seems to me that real employment takes time to catch up with the technical end to a recession, just as the sackings resulting from the 2008 crunch worked out over the following years rather than instantly.

Keith

I agree but doing things that actually improve peoples quality of life seems to have gone out of fashion. Politicians are now "Celebrities" as you pointed out recently and have no interest in helping real people with real problems. People are in fact a nuisance, they distract from the self absorbed narcissism of the ruling class. If anything political parties and their professional leaders and advisers are less likely to have any ideas that help people than ever before.

rogerh

I doubt those 'running' the economy know how to adjust 'happiness' or very much else at all, thanking their electoral stars if the economy runs at all. Which begs the question - are any real-world economies sustainable? Do they all run up against some limit and have to be redirected after the inevitable crashes?

So, without some useful way of employing the old C2 & D categories and with the C1s looking over their shoulders the concept of universal happiness seems a bit hopeful. But never mind - a 2 year course in Estate Agency for all benefit claimants will see us right.

SK

Technology would have such an effect.
Many jobs are being replaced by technology functioning more clever (see web services/interfaces/algorithms).

The outcome is that the Central Banks/Government need to get out of the mindset that they can create as many jobs as they would like and instead move towards providing a basic income no matter what.

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