Economics @ ITT

Why Our Elites Dont Care About Mass Unemployment

Posted in economics, employment, macroeconomics, Policy Issues, Taxation by ittecon on August 3, 2012

The Fed is tasked with reducing unemployment and keeping inflation from running amok, and we’re in a situation with too much joblessness and too little inflation. In more concrete terms, this means that millions of people are in the worst situation of their lives—they’ve lost their jobs, their homes, and maybe even their families. Generating inflation, and encouraging people and businesses to spend money would seem like the rational response to this situation, especially since the Fed has a policy responsibility to its dual mandate, and a moral responsibility to help alleviate the tragedy of mass unemployment.

via Why Our Elites Dont Care About Mass Unemployment | The Nation.


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