``I must give him his due. He has considerably cretinized me.'' Lautréamont

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Sunday, March 18, 2007

Protecting Wages in a Global Economy (NYT)

unemployment payments ensure unemployment endures

the point of a free market is that people stop doing what doesn't work and do something that does work instead.

creative destruction.

if there's no incentive to work, magically people won't work.

Traditional unemployment insurance must be improved before wage insurance — now a pilot program for a small subset of workers, age 50 and older, who lose their jobs to trade competition — is expanded.


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