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David Rye's avatar

"The problem is three of these four coffee shops have closed entirely."

<throws computer across room>

*This* is just don't get. I don't get how this isn't a bigger deal. To me this is catastrophic.

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Richard Young's avatar

Brad DeLong pointed out some time ago that the most successful social program is often a "high pressure economy" --meaning an economy close to full employment. That makes the labor market more competitive, encouraging people to enter the labor force and raising wages. Not saying this is the only social program we need, but it is fundamental. A low unemployment rate makes other social programs cheaper and more effective.

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