Sustainable Jobs

More government spending can at best create some unsustainable jobs in the short run. In the long run, it will only distort and impede the adjustments that are needed to create patterns of sustainable specialization and trade.

via Arnold Kling: Government Cannot Create Sustainable Jobs – WSJ.com.

In this article, Mr. Kling provides a good introduction to his PSST theory, suitable for non-economists. PSST derives directly from Smith and Ricardo, squares with everything I’ve observed, and makes great sense. This is worth absorbing if you have any interest in the future.

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