sustainable jobs
02-03-2012, 06:22 PM
#1
Libertarian Resistance
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sustainable jobs
A bit long to post in total. Here is an excerpt from an opinion in the WSJE, with which I substantially agree:
The market mechanism first must undertake trial and error to create production processes that exploit comparative advantage. Until these new patterns of sustainable specialization and trade are discovered, there are no job slots.
Experimenting with new patterns of specialization and trade is relatively easy. Discovering patterns of sustainable specialization and trade is much harder. Our economic well-being depends on the ability of entrepreneurs to make these discoveries.
The word "sustainable" in "patterns of sustainable specialization and trade" refers to profitability. Patterns that are profitable can be sustained. Patterns that are not profitable must eventually be shut down. That is the problem with patterns of trade created by government borrowing and spending: They are not sustainable, as has been illustrated in the U.S. by the failure of many of the "green energy" companies supported by President Obama's stimulus package. Moreover, as European policy makers have discovered, there are limits to how much governments can borrow to fund their experimentations in specialization and trade.
Read the whole thing here:
Arnold Kling: Government Cannot Create Sustainable Jobs - WSJ.com
WW
The market mechanism first must undertake trial and error to create production processes that exploit comparative advantage. Until these new patterns of sustainable specialization and trade are discovered, there are no job slots.
Experimenting with new patterns of specialization and trade is relatively easy. Discovering patterns of sustainable specialization and trade is much harder. Our economic well-being depends on the ability of entrepreneurs to make these discoveries.
The word "sustainable" in "patterns of sustainable specialization and trade" refers to profitability. Patterns that are profitable can be sustained. Patterns that are not profitable must eventually be shut down. That is the problem with patterns of trade created by government borrowing and spending: They are not sustainable, as has been illustrated in the U.S. by the failure of many of the "green energy" companies supported by President Obama's stimulus package. Moreover, as European policy makers have discovered, there are limits to how much governments can borrow to fund their experimentations in specialization and trade.
Read the whole thing here:
Arnold Kling: Government Cannot Create Sustainable Jobs - WSJ.com
WW
02-12-2012, 07:14 PM
#2
Gets Weekends Off
Joined APC: Nov 2011
Position: Volleyball Player
Posts: 4,024
That sounds exactly like the problem with airlines, not profitable or sustainable at their current sizes and costs. They've borrowed all sorts of money and gone in and out of bankruptcy, but the overal idea has always been quantity of jobs over quality of the company and the jobs. The weak ones should have been allowed to fail a long time ago, but since they were not, the precident is set and the entire industry keeps getting dug deeper and deeper into the hole. Luckily (but slowly), there are always mergers, and that's at least getting some of the job done. As far as the government...well, there's good and bad there...
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