ENGLISH

Economic Turbulence: Is a Volatile Economy Good for America?

By John Haltiwanger , Clair Brown , Julia Lane

Book information

Publisher
University of Chicago Press
Year
2006
ISBN
0226076326, 9780226076324, 9780226076348
Open Library ID
OL24255155M
Language
english
Format
PDF
Filesize
733 kB (750796 bytes)
Pages
210\210
Topic
Economy
Scanned
yes
Time added
2010-05-17 00:23:50

Description

Because the popular press focuses almost exclusively on net job creation or loss, they fail to paint a meaningful picture of how the U.S. economy really works underneath the surface. For every new job that journalists report in the economic section of your local newspaper, it typically means that 5 jobs were created and 4 were lost. And yet, churn of this sort is the sign of a healthy, vibrant economy. Thus, the effort to try to preserve jobs only leads to stagnation. Greater job loss will occur over the long run as competitors (both foreign and domestic) gain advantage precisely because they can both create and destroy jobs in response to market conditions. The authors of Economic Turbulence should be applauded for telling this story that too many people still don't want to hear.

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