Friday, February 22, 2013

Lest We Forget

Megan McArdle, who longtime readers know to be my favorite blog writer (analyst/pundit?), has come out with a pair of excellent reads about the problems with placing faith in government regulators and the calcification of the labor market.

The first one is the better read, and it has to do with the widening divide between our regulators and those at the helm in the private sector. McArdle is one of the few writers in the political punditry who realize that sometimes the talking heads simply have no clue what they're talking about. Anybody who's ever read a breathtakingly arrogant opinion piece in Slate or The Atlantic knows what she's talking about.


  1. If you want a solution to "calcification" then support full employment policies. If the demand is there and labor markets are tight firms will either train people, raise wages to attract workers, or both.

    1. Don't you think you're falling into the same trap that the Beltway mandarins are? If full employment were a function of government policy, we'd already be there.

  2. All significant labor market disequilibriums can be fixed by the government since they're all essential demand side issues.