Why are Jobs scarce in our economy?
I'm learning more about economy right now, and in particular what I'm wondering about is: Why are jobs scarce in our economy. As I was reading in my Google Reader, a blog post, "Why saving the world economy should be affordable," http://www.ft.com/cms/s/0/56477632-132b-11de-a170-0000779fd2ac.html, Published: March 17 2009, caught my attention because the information asks, Can we get out of this crisis? This wasn't the title.
Can we afford this crisis? Will governments destroy their solvency, as they use their balance sheets to rescue over-indebted private sectors?
The debate, as it has so often been, is between the US and Germany. Thus, in a speech last week, Tim Geithner, US Treasury secretary, noted that, “The IMF has called for countries to put in place fiscal stimulus of 2 per cent of aggregate GDP each year by 2009-10. This is a reasonable benchmark to guide each of our individual efforts. We think the G20 should ask the IMF to report on countries’ stimulus efforts scaled against the relative shortfall in growth rates.” Needless to say, no such firm pledge was forthcoming, with Germany particularly resistant."
The quote I chose here is basically giving fact on the scarcity of our crisis of economy, and can we come together , not just as a government, but as one people. I think this is very informational because it includes a graph of the UK, and US's Inflation increases and decreases.