Chris Dillow: Is workfare really such a bad idea? I share the outrage over the state, in effect, giving free labour to large corporations. But mightn’t there be a case for a scheme whereby the long-term unemployed, in exchange for benefits, do useful public work such as improving open spaces, building houses or whatever the local area needs? I’m thinking of five …
Yglesias: We’re starting from a steep labor market recession. My view is that means we need to be aiming for a period of rapid catch-up growth to reduce unemployment and restore the economy to full capacity. But the FOMC meekly “anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges …
Matt Yglesias calls for higher inflation: I’m participating in a “Great Jobs Debate” at the Atlantic sponsored by McKinsey. The exercise is supposed to be to answer the question, “What is the single best thing Washington can do to jumpstart job creation?” I perhaps took the question a little too literally and offered the actual …