Those of you who work in London may have noticed the new “Forum” section of City AM, the free daily newspaper. Cobden Center Advisory Board Member Jamie Whyte has a regular column, and I am delighted to be writing one myself. Focusing on macroeconomic theory and policy, it appears every Tuesday in the print edition, and this week’s focuses on unemployment figures.
Obama’s jobs plan assumes that any job is better than no job – that the goal of public policy should be to employ idle resources. But resources are never idle. Regardless of whether they are in use, they are performing an important economic function, and it is costly to put them to the wrong use. The challenge isn’t to create more jobs, but to create the right type.
We live in a world of social media, so please keep an eye on the Forum and make sure you comment on, like and retweet articles you wish to promote. The climate of opinion is moving towards Austrian economics – help us turn a rumble into a roar.