HKS Affiliated Authors

Excerpt

Secular joblessness. Edward L. Glaeser, 2014, Book Chapter within the book Secular Stagnation: facts, causes and cures.  "The wonders of the internet age cast doubt on the idea that technological progress is stagnating. Worryingly, however, some fraction of US job losses has become permanent after almost every recession since 1970. This chapter argues that persistent joblessness is unlikely to be a purely macroeconomic phenomenon. Although the US welfare system remains less generous than many European ones, it has become substantially more generous over time. Alongside targeted investments..." Link