Adam Posen is right: the unemployed come first

Posted on

US economist Adam Posen has an article I recommend reading in the FT this morning (and you can read 30 articles a month, free). The headlines say enough to summarise the argument:

Screen Shot 2014-08-20 at 09.21.57

First, there is an army of hidden jobless people, many of them supposedly self employed.

Second, this is massively damaging in multitudinous ways, from mental well being, to sustainability, to old fashioned growth if that's what you want.

Third, inflation is much less worrying - unless you're very wealthy.

And that's what economic debate on rate rises is about now. It's pretty much down to class struggle - wealth versus the rest. Maybe it was ever thus.

Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here: