“MORE PEOPLE OPT NOT TO WORK ANY MORE” (October 28, 2012)
Thus The Wall Street Journal today. “The labor force participation keeps falling,” elaborates the newspaper, “but unemployed workers who have abandoned their job search make up only a small portion of the group of people who have dropped out of the workforce.” The current depression in a nutshell. And it is the young who are at the bottom of it. Although the article is focusing on the United States, the situation in Europe is even worse. Especially in the south, the young are not only unemployed, but also unemployable. This is where work makes hardly any sense any longer. To wit, forget about the unemployment statistics. Look at those receiving all sorts of aid instead. The welfare state is dead only on paper. All manner of dropouts are on its back, and their numbers are growing by the day. The depression is making the usual numbers to watch but a pastime for the poorly informed. Work, what work?