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  1. #1
    Eartha is offline Member
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    entrenched joblessness

    Dear all,

    How should I understand the underlined?

    Thanks in advance.

    Eartha

    All this means that grappling with entrenched joblessness deserves to be far higher on America’s policy agenda. Unfortunately, the few (leftish) politicians who acknowledge the problem tend to have misguided solutions, such as trade barriers or industrial policy to prop up yesterday’s jobs or to spot tomorrow’s. That won’t work: government has a terrible record at picking winners. Instead, America needs to get its macro-medicine right, in particular by committing itself to medium-term fiscal and monetary stability without excessive short-term tightening. But it also needs job-market reforms, from streamlining and upgrading training to increasing employers’ incentives to hire the low-skilled. And there, strange as it may seem, America could learn from Europe: the Netherlands, for instance, is a good model for how to overhaul disability insurance. Stemming the decline in low-skilled men’s work will also demand more education reform to boost skills, as well as a saner approach to drugs and imprisonment.

  2. #2
    SoothingDave is offline VIP Member
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    Re: entrenched joblessness

    Entrenched joblessness: people who are out of work for a long time and may never be employable again without re-training

    Government has a terrible record at picking winners: government wastes money on things like ethanol and solar panels and electric cars instead of simply setting the rules for business and letting the market decide which products are wanted.

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