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Archive for October 1st, 2010

The bureaucrats at the International Labor Organization (which shouldn’t even exist) are correct to note that high levels of unemployment threaten social unrest. But like most left-wing international bureaucracies, they think the solution is more government - including so-called stimulus and government intervention in labor markets.

The extended loss of employment and growing perceptions of unfairness risked increasing social tension, the ILO said. In 35 countries for which data exists, nearly 40 per cent of jobseekers have been without work for more than one year, running risks of demoralisation and mental health problems, and young people were disproportionately hit by unemployment. It noted that social unrest related to the crisis has been reported in at least 25 countries, including some recovering emerging economies. …Torres warned governments against withdrawing fiscal stimulus measures while recovery was still weak. The ILO recommended…A combination of active labour market policies including work-sharing that target vulnerable groups such as young people, and training [and] A closer link between wages and productivity gains in surplus countries to boost demand and job creation;

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Here’s an amusing video from our friends at Reason. But there’s a serious point about how our fiscal problems are entirely the result of a rising burden of government spending.

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