I have yet to read any theoretical model that will generate the number of jobs that our international economy requires to keep the "system" functioning successfully. When I think of this nation's problems, I am still looking for an approach that will generate jobs, commensurate with the period prior to the recession, and the current/projected population. The service industry has been our chief job producer, but even that it has taken a downturn (health care will require less people since there is a focus on cost reduction and, even the financial service industry is taking a reduction due to implications of the new rules to reduce risk). Even when we think of jobs returning from China (due to their inflation and the cost of transportation), it means less jobs in China. In general, my point is that there has to be general good rates of employment to support a viable economy with peace etc.
Z. Karabel has written an excellent column supporting my perspective, but he, also, has little to offer, except the possibility of returning to the government being the employer of last resort (which is a pretty poor answer).
In general, we have a serious problem. Technology has resulted in production of even legal services and, surely, manufacturing, where most products require relatively few people. There is no end in sight! And, secondly, even if we can envision of "world without work", I cannot envision how such a society could function in this day and age. To support a population that is principally focused on leisure activities requires a population with a high degree of ego-strength and education that can be used productively for non-munerative activities.
We need our thinkers to focus on the global problem. Solving the job issue for any nation at the expense of another will not work in the long run.
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