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Professor Bill Mitchell on full employment and the aging population



August 16, 2012 – Comments (2)

Fantastic talk by Bill Mitchell. The problem with an aging population given the demographics in many developed economies (the Baby Boomer 'hump' in demographic profiles) is that younger workers are coming into the labor force in a much smaller proportion to those leaving the labor force. However, the mainstream debate discussing the options to deal with this problem is always focused on 'fiscal sustainability'. There is absolutely no 'fiscal sustainability' problem in the US, Australia, UK, Canada, Japan, etc. since those governments are sovereign issuers of their own floating exchange rate currencies. This is unlike the EU. Therefore all discussion of the US (or UK, Australia, etc.) going the way of Greece is completely incorrect.

Once we finally understand that fact (and unfortunately for us in the US, people like Paul Ryan and their incorrect economic ideologies are becoming more popular/prevalant, not less) then we can turn the discussion to productivity, which is the only way this problem will be solved.


Professor Bill Mitchell on full employment and the aging population

Bill on top of his game here:

2 Comments – Post Your Own

#1) On August 16, 2012 at 3:40 PM, binve (< 20) wrote:

Absolutely brilliant post by Cullen Roche explaining why we are not Greece (contrary to what Paul Ryan says) and how to view government deficits in the proper context:


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#2) On August 16, 2012 at 10:54 PM, portefeuille (98.32) wrote:

re-entry into trend channel territory :)


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