During periods of enforced unemployment, where the private markets cannot employ people who want to work, the state should employ people until sufficient job creation commences. By Michael Taft.
Even the Government admits their policies are having little effect on job creation. They expect unemployment to remain at 13% by 2015, a fall of only one percentage point since they took office. The number of people at work will only grow by 12,000 over the lifetime of this government. Truly, we are into a period of medium-term stagnation.