Monday, September 5, 2011

Economics: What's causing high youth unemployment?

Economics: What's causing high youth unemployment?: "WE SHOULD interpret high rates of joblessness essentially as lack of adequate growth and the aftermath of the misallocation of the pre-2007 period—misallocation that varied across countries in terms of whether it was through financial sector excesses and resulting costs, housing subsidies, or other forms of entitlements. The misallocation has become an intergenerational issue as excessive provision of entitlements has benefited the current generation at expense of the future ones. This excess has now materialised as fiscal problems for many if not all of these economies."

'via Blog this'

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