In the long-run, the supply of jobs is perfectly inelastic. You cannot change the number of jobs, only the allocation of jobs across sectors.
Tuesday, December 9, 2008
Can Obama Create Jobs?
This nice Reason article talks about how Obama wanting to "create" 5 million green jobs really means 5 million jobs will be transferred from something else. If green jobs are less productive than non-green jobs, it is akin to the Broken Window Fallacy. Nice job, Reason, I haven't thought of it like that.
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