tag:blogger.com,1999:blog-32914592.post2430355530341461278..comments2024-02-21T14:18:09.212-08:00Comments on R World: The American Job Market - A Self Inflicted WoundRon Davisonhttp://www.blogger.com/profile/11972794876337195698noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-32914592.post-13452452921286905302011-06-07T11:36:50.574-07:002011-06-07T11:36:50.574-07:00I agree with you and the Economist, mostly, Ron. ...I agree with you and the Economist, mostly, Ron. It took us 40 years to build the debt, and we need to reduce it over a long period as well. That will require changes in Social Security, Medicare, and defense spending - all politically difficult, but these will ultimately happen, one way or the other, because without change we will some day run out of money.<br /><br />In the short term we have to deal with the deficit while also getting a lot of people back to work. Although I'd hate to be labeled a conspiracy theorist, one can't help but notice that the pay of CEO's continues to rise, there are more millionaires now than ever before, and corporations are sitting on record levels of cash. Whether in concert or not, it seems like those capable of hiring are not doing it. At the same time, the U.S. is lagging in innovation, especially in energy creation, conservation, and transmission. I'd also say that the cost of education has gotten out of control, and innovation is needed here as well.<br /><br />It seems to me that one solution for the economy would be to re-allocate existing resources toward projects that would have long term, rather than short term,benefits. It may be that regulatory reform is necessary to make this happen, since our economy is very much hamstrung by laws that make the approval process for large projects almost interminable. Combining regulatory reform with heavy-duty jawboning of corporate leaders to make investments might just provide the impetus to prime the economic pump. The problem is finding politicians who could reach a consensus on such an approach. However, one can dream.Lifehikerhttps://www.blogger.com/profile/00087215544010279426noreply@blogger.com