The Forgotten Millions

I’ve been intending to write something here about how America has become a low-wage nation compared to other developed countries. In the meantime, here’s a link to the latest column from the fairly indispensable Paul Krugman, in which he points out that unemployment is still a terrible problem and briefly explains what will happen if we start down the “fiscal slope” (it’s not really a cliff, since its effects will be gradual):

“The unemployment crisis goes on and on, even though we have both the knowledge and the means to solve it. It’s a vast tragedy — and it’s also an outrage.”

Throw in the issues of underemployment and low wages and the problem is even worse.

http://www.nytimes.com/2012/12/07/opinion/krugman-the-forgotten-millions.html?hp

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s