So… what happens if we classify the unemployed as ‘deflation contractors’ for the purposes of employment statistics? Then we can enjoy the, um, benefits of ‘structural’ unemployment along with a 0% unemployment rate! It’ll be awesome.
Then, supposedly in order to encourage the creation of more jobs, they cut taxes on businesses; to balance the tax cuts, they cut social spending.
Of course, you don’t want to cut spending on police or prisons, for obvious reasons.
Or classify them as military personnel. If we’re going to have a reserve army of the unemployed, we might as well hand out ranks and medals, as well.
Spending on police and prisons is just job creation.
In fact, we could just be more efficient and randomly select half of all the unemployed to be criminals and half to be jailers. It’s like a national Stanford prison experiment mixed with the Depression-era jobs programs! Everybody wins!
The prison workers union (POA) is WAY ahead of you.
Isn’t that more or less what is happening now? Though of course it isn’t half and half, more like 90/10 prisoners to guards. Prisoners are cheaper and work for practically nothing.
They just change the methods of measurement over time so the statistics no longer reveal the real rate. http://www.shadowstats.com/alternate_data/unemployment-charts
This was an especially lucid edition of Lucky Duck.
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