Oh for fuck's sake Paul, don't be ridiculous.
"Europe has higher unemployment than the U.S. because it has stricter labor market regulation."https://www.econlib.org/i-win-my-european-unemployment-bet/ …
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Were that’s a carefully-reasoned critique ;-)
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Interesting but I have a data question. The US defines "unemployed" as someone claiming unemployment benefits which do not count people who do or can not do so. The EU counts persons actively seeking work. How do they measure that?
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I spent a few minutes and discovered the EU does a survey inclusive of all 28 member countries (https://ec.europa.eu/eurostat/web/lfs/methodology/development …). The US simply stops counting you if you no longer collect unemployment insurance payments. This is a classic misuse of different data sets.
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Yet European countries consistently score higher in quality-of-life rankings. Probably because fewer people have to deal with shitty employers or work several jobs to make ends meet.
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Whoever wrote this article has absolutely no clue. Unemployment is a shitty metric. Germany has low unemployment, but record-breaking poverty, because those jobs pay so little (a lot of them are part-time). https://www.fairobserver.com/region/europe/germany-economy-labor-market-angela-merkel-succession-news-15421/ … (and a billion other references)
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It's like saying deregulating food production creates cheaper food and maybe less people would go hungry. Would you eat that food yourself?
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Does a person working at Walmart and claiming food stamps count as employed, or unemployed?
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such macro level numbers are never caused by one single thing. Good try though...
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Germany has tight regulations and yet low unemployment. Correlation does not equal causation.
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