In this video clip, Professor Bill Mitchell outlines two different lines of argument with regard to unemployment. The economic cost to the nation and the human rights agenda. The long-term economic costs of unemployment are obvious but it is less well documented how a surplus of workers inevitably increases the potential for discrimination on grounds of age, gender, sexual orientation, race or religion.
There have certainly been mistakes made in Europe. But the proposals for their resolution suggest to me that the leadership doesn’t fully understand the nature of the mistakes.
They know the system has failed – youth unemployment above 50 per cent in several nations tells them that. But their distorted view of what has gone wrong and what might work is only leading to more failure.
The problem is that democracy is being further eroded each step they take towards a resolution.
Published on Jul 17, 2012 by billyboyblue2007
This video is an excerpt from a TV program produced by the University of Western Sydney – Open Forum. The excerpt covers the introduction and full presentation by Professor Bill Mitchell. The Forum was open to the public and was held in Sydney on January 16, 2012.
Related Post: Look after the unemployment, and the budget will look after itself (John Maynard Keynes 1933)