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This week we examine some potentially disturbing trends related to employment. The unemployment rate has been pretty consistent over the past couple of years, and normally we think of that number as being linked to the economy overall. If the economy is good, there are a lot of jobs. If the economy is bad, there are fewer jobs. While that’s obviously still true, there may be more at work. Our guest says that the economy itself may be undergoing a major restructuring -- and that has some potentially very serious consequences for the job market of the future. About Our Guest Arnold Kling earned his Ph.D in economics from MIT in 1980. He was an economist on the staff of the Federal Reserve Board from 1980-1986, after which he held a number of positions at Freddie Mac. In 1994, he started one of the first commercial web sites, Homefair.com, which was sold in 1999. Since then, he has been teaching high school statistics as a volunteer and has written several books, including Crisis of Abundance: Rethinking How We Pay for Health Care. He's currently working on two new books with the working titles From Poverty to Prosperity and The Knowledge-Power Discrepancy He is also a member of the Financial Markets Working Group of the Mercatus Center at George Mason University.
(Originally aired November 22, 2011.)
It's good to talk.