What the world needs?
Tight Labour Markets are the best social programme, as they force employers to hire the inexperiencedLarry Summers, FT Today
without growth (GDP growth) there will never be tight labour markets. Governments have to create growth. That should be the highest priority.
there is excess supply everywhere. what the world needs is more demand.
how to create more demand?
raise interest rates and the people who have savings will start spending again.
automation and Globalization are strong forces that prevent Tight labour markets. Governments have to engineer strong growth.
Wars and plagues that slash populations have historically led to higher wages for the survivors
A Gary Shilling
fortunately we don't have many wars and plagues anymore , therefore the supply is growing and growing . the solution is higher interest rates that should put some companies out of business.
higher Interest rates should cut supply and increse demand
and that is what the world needs
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