Bill Mitchell — Long-term unemployment behaviour reflects austerity bias in Eurozone

The Economist is in for it today.

The Economist magazine, never one to resist the urge to promote flawed ‘free market’ analysis, does not seem to have learned any lessons from its erroneous coverage of the GFC. It the latest version of what has to be one of the worst-named columns ‘The Economist explains’ (given explanation usually requires knowledge to be imparted) – Why long-term unemployment in the euro area is so high (August 2, 2015), all the usual myths about the labour market are propagated and the obvious ignored because it doesn’t fit the ideological position of the magazine.…

Enjoy the smackdown.

Bill Mitchell – billy blog
Long-term unemployment behaviour reflects austerity bias in Eurozone
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia