I read an interesting article that was published on December 18, 2015 by the Center for Global Development, which is one those centrist-type research and advocacy organisations that lean moderately to the right on economic matters. The article – Europe’s Refugee Crisis Hides a Bigger Problem – discusses what it considers to be “three population related crises”, two of which at the forefront of public attention (because they are moving fast) – the “refugee crisis” and the “terrorism crisis”. The third is “Europe’s slow moving and in inexorable ageing crisis”, which is largely being ignored in the public debate. The article provides a basis to link the three crises together – in the sense that “Europe actually needs millions of migrants a year to mitigate its ageing crisis”. While I have some sympathy with the article, there are many omissions that reflect the bias of the author. Two major issues – mass unemployment and productivity growth are ignored completely. The emphasis in the article is on whether the public sector can afford not to bring in more people to offset the ageing of the EU28 population. That emphasis discloses the bias of the author and diminishes the strength of the article.…Bill Mitchell – billy blog
Europe’s future is bleak with an ageing population and policy failure
Bill Mitchell | Professor in Economics and Director of the Centre of Full Employment and Equity (CofFEE), at University of Newcastle, NSW, Australia
5 comments:
http://stumblingandmumbling.typepad.com/stumbling_and_mumbling/2016/01/against-anti-economics.html
More Latte Lefties in the UK.
I agree with a lot of what Justin Welby and Pope Francis say and write.
But that doesn't mean that the axioms underlying their particular beliefs are correct.
An other one from the "Church of Big Numbers and Exponential Functions" of mainstream economics...
Anyway, crying about unsustainability of the system because ageing population when youth unemployment in Europe is at all time high is a new high on "economists stupidity".
" new high on "economists stupidity".
Well you'll get no argument here.... ;)
Ignacio is that an example of Jasper Fforde''s stupidity surplus?
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